Statement of Utilization/ Deviation of Funds of Preferential Issue for the Quarter ended September 30, 2025
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Relic Technologies has filed a routine compliance statement confirming that funds raised through a preferential issue on April 5, 2025 have been used in line with the originally approved objects, with no deviation or variation reported for the quarter ended September 30, 2025. The company raised a total of Rs. 1,411.24 Lakhs (Rs. 1,317.50 Lakhs from equity shares of face value Rs. 10 each and Rs. 93.74 Lakhs as 25% upfront payment towards fully convertible warrants of Rs. 374.98 Lakhs total value). The proceeds are earmarked for working capital, investment or acquisition of entities, loans to other entities, and general corporate purposes, as approved by shareholders at the EGM held on March 18, 2025. During Q1 FY26 (ended June 30, 2025), the company utilized Rs. 168 Lakhs, taking cumulative utilization as on September 30, 2025 to Rs. 383 Lakhs (roughly 27% of the total amount raised). The Audit Committee reviewed the statement on November 8, 2025 and confirmed that the utilization is consistent with the stated objects. No monitoring agency was appointed for this issue.
This is a standard SEBI-mandated compliance filing with no negative news — no deviation or misuse of funds was reported. For shareholders, this signals management discipline in deploying the preferential issue proceeds, though the slow utilization pace (about 27% in roughly six months) suggests funds are still largely undeployed and may be deployed over coming quarters.