Key Quantitative Figures
- Total Funds Raised: ₹8,69,99,580 (Rupees Eight Crore Sixty-Nine Lakhs Ninety-Nine Thousand Five Hundred and Eighty Only)
- Warrant Allotment (October 30, 2024):
- Number of warrants allotted: 19,33,324
- Issue price per warrant: ₹45 (including premium of ₹35 per warrant)
- Initial payment received: ₹11.25 per warrant (25% of issue price)
- Total initial amount: ₹2,17,49,895
- Equity Conversion (December 1, 2025):
- Equity shares allotted: 19,33,324
- Issue price per share: ₹45 (including premium of ₹35 per share)
- Second payment received: ₹33.75 per warrant (75% of issue price)
- Total second amount: ₹6,52,49,685
- Fund Utilization Status:
- Total Fund Allocated: ₹8,69,99,580
- Total Fund Utilized till September 30, 2026: ₹8,69,96,580
- Balance Fund Available: ₹3,000
Dates of Action
- Warrant Allotment Date: October 30, 2024
- Equity Share Allotment Date: December 1, 2025
- Reporting Quarter Ended: September 30, 2026
- Filing Date: October 29, 2026
Parties Involved
- Listed Entity: Spice Islands Industries Limited
- Regulatory Authority: BSE Limited
- Monitoring Agency: Not Applicable
Purpose of Fund Raising
The funds were raised to meet working capital requirements, business expansion, and other general corporate purposes. The board considered preferential issue as the most cost and time effective method for raising additional capital.
Deviation Status
The company confirmed:
- No deviation/variation in use of funds raised
- No change in terms of contract or objects requiring shareholder approval
- No explanation for deviation required
- No comments from Audit Committee
- No comments from auditors
Financial Impact
The disclosure indicates near-complete utilization of the raised funds (99.99% utilized), with only ₹3,000 remaining from the original ₹8.70 crore raised. The financial impact of the fund utilization has been fully realized as of the reporting period.