Statement of Utilization/ Deviation of Funds of Preferential issue for the quarter ended 30th June 2025
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Awaiting price reaction for this filing.
Relic Technologies has confirmed that there is no deviation or variation in the use of proceeds from its preferential issue for the quarter ended June 30, 2025. The company had raised Rs. 1,411.24 Lakhs on April 5, 2025 through equity shares (Rs. 1,317.50 Lakhs) and convertible warrants (Rs. 93.74 Lakhs, being 25% upfront). During the quarter, Rs. 215.00 Lakhs was utilized in line with the original objects. The stated purposes include working capital, investment/acquisition of entities, further loans to other entities, and general corporate purposes. The Audit Committee reviewed and noted that the utilization is in line with the objects of the issue.
This is a routine regulatory compliance filing confirming disciplined use of raised funds with no misallocation. Neutral to slightly positive for transparency, but unlikely to move the stock since the company is small and no new business update is disclosed.