Relic Technologies Limited has confirmed that there has been no deviation or variation in the utilization of proceeds from its preferential issue for the quarter ended September 30, 2026. The company stated that the funds raised through equity shares and warrants, allotted in April and December 2025 respectively, have been used in accordance with the stated objects. This confirmation was reviewed by the Audit Committee on November 02, 2026.
Statement on Fund Utilization
Relic Technologies Limited has issued a statement confirming the utilization of funds raised from a preferential issue of Equity Shares and Share Warrants. For the quarter ended September 30, 2026, the company reported that the proceeds have been utilized in strict adherence to the original objects outlined during the fund-raising process. This statement is in compliance with Regulation 32 of the SEBI (Listing Obligations Disclosure Requirements) Regulations, 2015.
Preferential Issue Details
The preferential issue involved the allotment of Equity Shares and Fully Convertible Warrants. Equity Shares were allotted on April 05, 2025, amounting to Rs. 1317.50 Lakhs. Subsequently, Share Warrants were converted into Equity Shares on December 13, 2025. The total amount raised from the issuance of Equity Shares and the subsequent conversion of Warrants is detailed in the accompanying annexure.
Audit Committee Review
The statement confirming the adherence to the utilization plan for the raised funds was reviewed by the Audit Committee of Relic Technologies Limited. The committee met on November 02, 2026, and noted that the utilization of proceeds is in line with the stated objectives of the preferential issue. The original objects for which funds were raised included meeting working capital requirements, investment and/or acquisition of entities, further investment in or granting of loans to other entities, and for general corporate purposes.
Annexure 1: Fund Utilization Summary
The details provided in Annexure 1 outline the fund-raising particulars. The total amount raised was Rs. 1317.50 Lakhs for Equity Shares and Rs. 374.98 Lakhs for Fully Convertible Warrants converted into Equity Shares. The original proposed utilization for the funds raised was Rs. 1,692.48 Lakhs. As of the quarter ended September 30, 2026, the cumulative utilization was Rs. 721.50 Lakhs, with the utilization for the specific quarter being Rs. 96.00 Lakhs. No deviation or variation was reported in the utilization of these funds for the said quarter.
Source: BSE
