Statement of deviation or variation in the use of proceeds of preferential issue of equity shares and warrants for the quarter ended December 31, 2025.
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Remi Edelstahl Tubulars has confirmed that proceeds from its preferential issue of equity shares and convertible warrants (raised on Oct 16, 2025 for Rs 14.62 crores) have been used without any deviation from the original objects approved by shareholders. During the quarter ended Dec 31, 2025, the company utilised Rs 14.57 crores out of the Rs 14.62 crores raised, with Plant & Machinery receiving the full Rs 12.10 crores allocated, Civil Work receiving Rs 0.25 crores, and Technology costs receiving Rs 2.22 crores against an allocation of Rs 8.75 crores. The Audit Committee reviewed the statement and had no comments, and the auditors also raised no comments. No monitoring agency was appointed for this issue.
This is a routine compliance filing confirming that funds raised via the preferential issue are being deployed as originally promised to shareholders. There is no negative surprise, and the near-complete utilisation (Rs 14.57 cr of Rs 14.62 cr) signals steady execution of the capex plan, which is mildly positive for shareholder confidence.