Ramkrishna Forgings Limited has issued a statement confirming no deviation or variation in the utilisation of funds raised through a preferential issue. The company raised approximately ₹149.94 Crores by allotting 34,00,000 Equity Shares to Mr. Chaitanya Jalan, a promoter. Funds were utilized for working capital repayment and general corporate purposes, with all amounts allocated as per the original plan for the quarter ended 30 September, 2026.
No Deviation in Fund Utilisation
Ramkrishna Forgings Limited has officially stated that there has been no deviation or variation in the utilisation of funds raised through its recent preferential issue. This confirmation pertains to the quarter ended 30 September, 2026.
Preferential Issue Details
The company had previously allotted 34,00,000 Equity Shares of face value Rs. 2/- each to Mr. Chaitanya Jalan, a promoter. This allotment was a conversion of 34,00,000 warrants, against which an aggregate amount of Rs. 149,94,00,000/- (Rupees One Hundred Forty Nine Crore and Ninety Four Lakh only) was received. The issue price per warrant was Rs. 441/-, which represented 75% of the total warrant issue price.
Fund Allocation for the Quarter
The total funds raised amounted to Rs. 149.94 Crores. For the quarter ended 30 September, 2026, the funds were allocated as follows:
- Working Capital Repayment: Rs. 99.96 Crores allocated and utilised.
- General Corporate Purpose: Rs. 49.98 Crores allocated and utilised.
The report highlights that the utilisation of funds matched the original allocation precisely, with 0.00 deviation or variation for both categories. The company’s monitoring agency, India Rating & Research Private Limited, has also been informed.
The full statement, including detailed utilisation information, has been made available on the company’s website, www.ramkrishnaforgings.com.
Source: BSE
