BOROSIL RENEWABLES LIMITED has informed the Exchange regarding 'Restructuring the utilisation of proceeds from the Preferential Issue of Equity Shares'.
BORORENEW · price
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Borosil Renewables has informed the exchange about revising the use of funds raised through its earlier preferential issue of equity shares (allotted on October 17, 2025), as a few proposed allottees did not subscribe to their full entitlement. Because of this undersubscription, the total proceeds available have come down marginally from Rs. 376.02 crore to Rs. 371.49 crore, a reduction of about Rs. 4.53 crore. The company has kept the capital expenditure plan for expanding solar glass manufacturing capacity at its Bharuch, Gujarat facility fully intact at Rs. 317.34 crore, while the amount earmarked for general corporate purposes has been trimmed from Rs. 58.68 crore to Rs. 54.15 crore. The core growth capex plan therefore remains unchanged despite the smaller-than-expected raise.
Good news for shareholders as the key capex plan for solar glass capacity expansion is fully preserved, signalling management's commitment to growth. The slight undersubscription is minor (under 1.2% of total proceeds) and is unlikely to materially affect the stock price or expansion timelines.