Ramkrishna Forgings Limited has confirmed the successful utilization of funds raised through its recent preferential issue of warrants and equity shares for the quarter ended March 31, 2026. The company reported no deviations in the allocation of proceeds, which were primarily directed toward the repayment of working capital loans and interest obligations, demonstrating fiscal discipline and adherence to its stated objectives.
Financial Utilization Overview
As of the quarter ended March 31, 2026, Ramkrishna Forgings Limited has maintained complete transparency regarding the deployment of capital raised via its recent preferential issues. The company confirms that all funds, totaling Rs. 49.98 crore from warrant allotments and Rs. 100.80 crore from equity share conversions, were applied strictly toward their intended purposes without any variation from the approved objects.
Details of Capital Deployment
The funds generated through these financial instruments were earmarked for the repayment of working capital loans, including interest payments. By applying Rs. 49.98 crore (received as 25% upfront payment for 34,00,000 warrants) and Rs. 100.80 crore (received upon the conversion of 6,40,000 warrants into equity shares), the company has successfully strengthened its balance sheet.
Commitment to Corporate Objectives
The company maintains a clear policy regarding the use of proceeds, with up to 25% of issue proceeds allocated toward General Corporate Purposes. The utilization of these funds has been verified by the company’s management and monitored by India Rating & Research Private Limited, confirming that all financial activities align with the company’s strategic growth plans and debt management initiatives.
Source: BSE
