Statement of Deviation or Variation in utilization of proceeds from Preferential Issue of Equity Shares for the Quarter ended March 31, 2026.
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RNIT AI Solutions Limited has filed a quarterly compliance report under SEBI Listing Regulations for Q4 FY 2025-26. The company raised funds through two preferential issues of equity shares: Rs. 20.83 Crores on 5th November 2025 and Rs. 26.33 Crores on 28th March 2026, totaling approximately Rs. 47.16 Crores. The first tranche (Rs. 20.83 Crores) allocated for business expansion, working capital and general corporate purposes was fully deployed by the end of Q4 with no deviation reported. The second tranche (Rs. 26.33 Crores) remains entirely unutilized with no specific objects stated in the filing, and the company indicates it will be utilized in due course. The Audit Committee confirmed no deviation or variation in fund utilization, and auditors had no comments.
The lack of disclosed objects for the Rs. 26.33 Crores raised in March 2026 and its full unutilized status leaves investors without clarity on deployment plans. This warrants close monitoring as the funds are deployed.