Five-Star Business Finance Limited has confirmed that there was no deviation or variation in the utilization of funds raised through its preferential issue of share warrants as of March 31, 2026. The company successfully utilized the upfront consideration for its intended objects, while the balance consideration received in the final quarter of the fiscal year remains to be deployed.
Fund Utilization Overview
Following the preferential issue of share warrants, Five-Star Business Finance Limited has maintained strict adherence to its stated objectives. For the quarter ended March 31, 2026, the company reported that the total issue size of INR 31.57 crore, comprising 410,000 share warrants at INR 770 per unit, has been managed in line with corporate commitments.
Breakdown of Proceeds
The company received an upfront consideration of INR 7.89 crore (25% of the total issue size) on October 24, 2024. This amount has been fully utilized for the intended purpose of working capital. Furthermore, on March 23, 2026, the company received the balance consideration of INR 17.90 crore (75% of the total issue size) corresponding to the conversion of 310,000 share warrants into equity shares. As of March 31, 2026, these additional funds remain held by the company and are yet to be deployed.
Audit and Compliance
The Audit Committee has reviewed the utilization of these funds and found no instances of deviation or variation from the objects outlined during the initial fundraising process. The company continues to operate with full transparency regarding its capital management and project funding allocations.
Source: BSE
