Fund-Raising Activities Covered

1. Preferential Issue of Equity Shares (Allotted 17th July 2025)

  • Amount Raised: ₹6.00 Crores
  • Quarter Reported: 30th September 2026
  • Monitoring Agency: Not Applicable
  • Deviation/Variation: No
  • Audit Committee Comments: None
  • Auditor Comments: None
  • Utilization Status:
  • Original objects with no modification
  • ₹5.70 Crores utilized during quarter ended 30.09.2025
  • Unutilized Amount: ₹0.30 Crores as at 30.09.2026 comprising:
  • ₹0.22 Crores towards Investment in Real Estate
  • ₹0.03 Crores towards Working Capital
  • ₹0.05 Crores towards General Corporate Purposes
  • Original Timeline: Utilization upto 31st October 2025 (approved 2nd May 2024 EGM)
  • Extended Timeline: Utilization extended upto 31st October 2027 (approved 20th February 2026 EGM)

2. Preferential Issue of Convertible Warrants (Allotted 29th October 2025)

  • Amount Raised: ₹56.25 Crores (25% upfront consideration of 2,25,00,000 warrants @ ₹100 each)
  • Quarter Reported: 30th September 2026
  • Monitoring Agency: India Ratings and Research Pvt. Ltd
  • Deviation/Variation: Yes
  • Shareholder Approval Date: 12th December 2025 (2nd EGM of FY 2025-26)
  • Original Approval Date: 25th July 2025 (1st EGM of FY 2025-26)
  • Audit Committee Comments: None
  • Auditor Comments: None
  • Object Modification: Shareholders approved variation in object-wise utilization:
  • Acquisition/development land: ₹54.11Cr → ₹40.00Cr
  • Working capital: ₹6.25Cr → ₹4.00Cr
  • General corporate: ₹3.75Cr → ₹3.82Cr
  • NCD redemption: ₹4.64Cr → ₹8.43Cr (for repayment of security deposits)
  • Total Utilization: ₹53.13 Crores as detailed:
  • ₹37.49Cr - Land acquisition/development
  • ₹2.46Cr - Working capital
  • ₹6.85Cr - Security deposit repayment
  • ₹3.82Cr - General corporate purposes
  • Unutilized Amount: ₹3.12 Crores as at 30.09.2026 comprising:
  • ₹1.58Cr - Security deposit repayment balance
  • ₹1.54Cr - Working capital requirements

3. Preferential Issue of Equity Shares (Allotted 2nd January 2026)

  • Amount Raised: ₹99.43 Crores (99,43,125 shares @ ₹100 each)
  • Quarter Reported: 30th September 2026
  • Monitoring Agency: India Ratings and Research Pvt. Ltd
  • Deviation/Variation: Yes
  • Shareholder Approval Date: 20th February 2026 (3rd EGM of FY 2025-26)
  • Original Approval Date: 12th December 2025 (2nd EGM of FY 2025-26)
  • Audit Committee Comments: None
  • Auditor Comments: None
  • Object Modification: Shareholders approved variation in object-wise utilization:
  • Land acquisition/development: ₹65.00Cr → ₹60.18Cr
  • Preference share redemption: ₹12.75Cr → ₹9.25Cr
  • NCD redemption: ₹18.55Cr → ₹9.00Cr
  • Working capital: ₹34.00Cr → ₹11.00Cr
  • General corporate: ₹14.70Cr → ₹10.00Cr
  • Total Utilization: ₹35.14 Crores as detailed:
  • ₹9.25Cr - Preference share redemption
  • ₹9.00Cr - NCD redemption
  • ₹7.22Cr - Working capital
  • ₹6.60Cr - General corporate purposes
  • Unutilized Amount: ₹64.29 Crores as at 30.09.2026 comprising:
  • ₹60.18Cr - Land acquisition/development
  • ₹1.20Cr - Working capital
  • ₹2.91Cr - General corporate purposes

4. Preferential Issue of Convertible Warrants (Allotted 2nd January 2026)

  • Amount Raised: ₹12.50 Crores (25% upfront consideration)
  • Quarter Reported: 30th September 2026
  • Monitoring Agency: India Ratings and Research Pvt. Ltd
  • Deviation/Variation: No
  • Audit Committee Comments: None
  • Auditor Comments: None
  • Utilization Status:
  • Original object: Land acquisition/development (₹12.50Cr)
  • No modification to objects
  • Funds utilized: ₹2.56 Crores
  • Unutilized Amount: ₹9.94 Crores as at 30.09.2026

5. Preferential Issue of Equity Shares (Allotted 4th March 2026)

  • Amount Raised: ₹0.37 Crores
  • Quarter Reported: 30th September 2026
  • Monitoring Agency: Not Applicable
  • Deviation/Variation: No
  • Audit Committee Comments: None
  • Auditor Comments: None
  • Utilization Status:
  • Original objects with no modification
  • Funds utilized: ₹0.00 Crores
  • Unutilized Amount: ₹0.37 Crores as at 30.09.2026
  • Warrant Conversion Background:
  • Original allotment: 24,34,786 convertible warrants on 5th September 2024
  • Conversions: 5,35,120 warrants (17th July 2025), 33,444 warrants (4th March 2026)
  • Lapsed: 18,66,222 warrants not converted within 18 months (lapsed and forfeited)