Statement of utilisation/ deviation of funds of preferential issue for the quarter ended March 31, 2026
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Relic Technologies Limited has filed a compliance statement confirming no deviation in the utilisation of proceeds from its preferential issue. The company raised Rs. 1,692.48 Lakhs through allotment of equity shares (Rs. 1,317.50 Lakhs) on April 5, 2025, and fully convertible warrants (Rs. 374.98 Lakhs) which were converted into equity shares on December 13, 2025. During Q4 FY26 (January-March 2026), Rs. 80 Lakhs was utilised, bringing cumulative utilisation to Rs. 558 Lakhs. The funds are being deployed towards working capital, investments, acquisitions, and general corporate purposes as per the EGM approval dated March 18, 2025. The Audit Committee reviewed and confirmed proper utilisation on May 23, 2026.
The filing provides assurance to shareholders that the preferential issue proceeds are being used as stated, with no deviation. The relatively low cumulative utilisation of Rs. 558 Lakhs out of Rs. 1,692.48 Lakhs (~33%) suggests a phased deployment of funds over nearly a year since the issue.