Key Finding
No deviation(s) or variation(s) in the utilization of funds raised through Preferential Issue for the quarter and half year ended September 30, 2026.
Fund Raising Details
Mode of Fund Raising: Allotment of Equity shares and warrants on a Preferential basis
Total Amount Raised: ₹243.48 lakh, out of which ₹152.18 lakh was received at the time of allotment
Breakdown of Allotments:
- Equity Shares: 75,150 shares allotted on 14.11.2025 at ₹81 per share, totaling ₹60,87,150
- Warrants (Series A): 75,150 warrants allotted on 14.11.2025 with 25% upfront receipt of ₹15,21,787.50
- Warrants Conversion (Series A): 75,150 warrants converted to equity shares on 20.03.2026 with 75% receipt of ₹45,65,362.50
- Warrants (Series B): 150,300 warrants allotted on 14.11.2025 with 25% upfront receipt of ₹30,43,575
Fund Utilization
Original Objects:
1. Capital Expenditure for setting up/upgrading manufacturing facilities for pacemaker production including automation and adoption of cleanroom technology
2. General Corporate purpose
Utilization Amounts:
- Capital Expenditure: ₹99.11 lakh
- General Corporate Purpose: ₹0.74 lakh
- Total Utilized: ₹99.85 lakh
No modified objects or allocations were implemented during the period.
Governance Process
The statement of no deviation was reviewed by the Audit Committee and taken on record by the Board of Directors. There were no comments from the Audit Committee or Auditors regarding the fund utilization.