ICRA reports no deviation in preferential issue proceeds for Q2 FY27
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ICRA Limited's final report for the quarter ended September 30, 2026 found no deviation in the use of Rs 495 crore raised via a preferential issue of 50 lakh shares at Rs 990 each. Use matched two stated objects: up to Rs 371.25 crore for expansion and growth, and up to Rs 123.75 crore for general corporate purposes and issue expenses. Issue expenses so far were Rs 0.38 crore.
Positive compliance signal: proceeds were used as disclosed with no major deviation, though the report gives no assurance on business results.