Jupiter Wagons Limited has submitted its statement on the deviation or variation in the utilization of funds raised through its preferential issue of equity shares and convertible warrants. For the quarter ended June 30, 2026, the company reported no utilization during the quarter for the funds raised via Qualified Institutions Placement in December 2023. The proceeds from the preferential issue of warrants in June and July 2024 were fully utilized.
Fund Utilization Disclosure for Q2 2026
Jupiter Wagons Limited has filed a statement detailing the utilization of funds from its recent preferential issues. This disclosure covers the quarter ending June 30, 2026, as mandated by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is providing clarity on how proceeds from its Qualified Institutions Placement (QIP) and convertible warrants are being applied.
Details of Preferential Issues
The statement highlights the status of funds raised through a QIP in December 2023, for which no utilization was reported during the quarter. Additionally, it covers the preferential issue of convertible warrants in June 2024 and another in July 2024. For both of these warrant issues, the company has confirmed that the funds raised have been fully utilized.
Utilization for Specific Projects
The funds raised from the QIP on December 4, 2023, totaling approximately ₹403.41 crore (net proceeds of ₹394.18 crore), were intended for specific purposes. A portion was allocated for setting up a new captive alloy steel foundry unit at Jabalpur and expanding the existing alloy steel foundry at Bandel. Another significant allocation was for funding working capital requirements, and the remaining for inorganic growth and general corporate purposes. For the quarter ending June 30, 2026, the utilization for the Jabalpur and Bandel expansion was reported as ₹6.36 crore, with the remarks indicating NIL deviation/variation for the quarter. The entire amount allocated for working capital (₹215.00 crore) and general corporate purposes (₹129.18 crore) was also fully utilized, with no deviation reported for the quarter.
Source: BSE
