Submission of Certificate of the Statutory auditor for utilization of money raised through the preferential issue of equity shares and convertible warrants.
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Silicon Rental Solutions Limited has submitted its statutory auditor's certificate confirming the proper use of funds raised through a preferential issue in January 2025. The company allotted 11,47,200 equity shares at Rs. 222 each (Rs. 10 face value + Rs. 212 premium), raising about Rs. 25.47 crore, and issued 5,50,400 convertible warrants at the same price, receiving Rs. 3.05 crore as 25% upfront payment. Total capital raised through both instruments is approximately Rs. 28.52 crore. The auditor confirmed there is no deviation or variation in the use of proceeds. Of the equity share proceeds, Rs. 12.66 crore was used for investments, Rs. 10.10 crore for long-term working capital, and Rs. 2.56 crore for general corporate purposes. The Rs. 3.05 crore received from warrants remains entirely unutilized, earmarked for future capital expenditure.
This is a routine SEBI compliance filing that reassures shareholders about transparent use of preferentially issued funds, with no deviation flagged. The fully unutilized warrant portion (Rs. 3.05 crore) indicates pending deployment plans that investors should monitor for future capital expenditure announcements.