Pursuant to Regulation 30 of SEBI (LODR), we wish to inform that the company has clarified the objects and utilisation of proceeds of the proposed preferential issue of warrants aggregating ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Alphalogic Industries has clarified how it plans to use the ₹5.04 crore raised through a proposed preferential issue of warrants. Of the total proceeds, 72.06% (₹3.63 crore) will go towards working capital requirements, 20% (₹1.01 crore) towards general corporate purposes, and 7.94% (₹40 lakh) towards business expansion. The company has confirmed that general corporate purposes funds will be capped at the earmarked amount and used only for routine administrative and operational expenses. The company also stated that proceeds will not be diverted to any purpose other than those listed, ensuring regulatory compliance.
This is a small-sized capital raise primarily aimed at funding day-to-day operations and modest growth. Since this is a preferential issue of warrants, existing shareholders should note the potential for future dilution once these warrants are converted into equity shares.