Pursuant to regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby confirm that for the quarter ended 31st March, 2025, there is no deviation ....
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Insolation Energy Limited has filed a quarterly compliance statement confirming that there is no deviation or variation in the use of proceeds from its preferential issue for the quarter ended 31st March 2025. The company raised Rs. 395.19 crore (against an originally planned Rs. 402 crore — the shortfall was due to non-participation by some proposed allottees) through a preferential issue allotted on 11th December 2024. During the quarter, Rs. 85.19 crore was utilized — Rs. 69.26 crore towards investment in its wholly owned subsidiary Insolation Green Energy Private Limited for setting up a new manufacturing unit in Sawarda, Jaipur (Rajasthan), and Rs. 15.93 crore towards general corporate purposes. The Audit Committee and Board of Directors reviewed and noted the statement in their meetings held on 26th May 2025, confirming that funds are being used in line with the originally stated objects of the issue. CARE Ratings Limited is acting as the monitoring agency.
This is a routine compliance filing with no negative news. It reassures shareholders that the ~Rs. 395 crore raised via preferential issue is being deployed exactly as promised, reflecting sound governance and capital discipline. No material impact on share price is expected.