Pursuant to Regulation 32(1) of SEBI (LODR) 2015, we hereby confirm that for the quarter ended 31st March, 2026, there is no deviation or variation in the utilisation of issue proceeds ....
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Insolation Energy Limited has filed a quarterly confirmation under SEBI LODR Regulation 32(1) stating that for the quarter ending 31 March 2026, there is no deviation or variation in the utilisation of proceeds from its Preferential Issue. The company raised ₹395.19 crore through a preferential allotment on 11th December 2024, against a planned offer of ₹402 crore — the shortfall occurred because some proposed allottees did not participate. Funds have been deployed in line with the stated objects: approximately ₹322.77 crore towards investment in the wholly-owned subsidiary Insolation Green Energy Private Limited for setting up a new manufacturing unit in Sawarda, Jaipur, Rajasthan, and approximately ₹72.42 crore towards general corporate purposes. The statement was reviewed and noted by the Audit Committee and Board of Directors on 25th May 2026. CARE Ratings Limited is the monitoring agency.
For shareholders, this is a positive confirmation that funds from the December 2024 preferential issue are being deployed as intended with no deviations, which is a standard regulatory compliance disclosure with no immediate stock impact.