Five-Star Business Finance has released a statement confirming no deviation or variation in the utilization of proceeds from convertible share warrants for the quarter ended September 30, 2025. The company confirms that no proceeds towards conversion of warrants into equity shares were received during this period. This announcement follows their preferential issue of share warrants from October 24, 2024.
No Deviation in Warrant Proceeds
Five-Star Business Finance confirms that there were no deviations or variations in the utilization of proceeds from the issuance of convertible share warrants for the quarter ending September 30, 2025. This statement is in accordance with regulatory requirements.
Details of Preferential Issue
The initial preferential issue of share warrants occurred on October 24, 2024, raising a total of INR 31.57 Crore. The company had received INR 7.89 Crore, which is 25% of the issue size, as an upfront consideration. The balance 75% would be received upon exercise of the conversion option by warrant holders.
Current Status of Warrant Conversion
As of September 30, 2025, the company has not received any further proceeds from the conversion of warrants into equity shares. The initial amount received has been fully utilized as intended.
Source: BSE
