Relic Technologies Limited has confirmed that there has been no deviation or variation in the utilization of proceeds from its preferential issue of Equity Shares and Share Warrants during the quarter ended June 30, 2026. The company stated that the proceeds have been utilized in accordance with the objects outlined during the Extra-Ordinary General Meeting held on March 18, 2025. This confirmation has been reviewed by the Audit Committee.
No Deviation in Fund Utilization for Q1 FY27
Relic Technologies Limited has officially reported that no deviation or variation occurred in the utilization of funds raised from its preferential issue of Equity Shares and Share Warrants for the quarter ending June 30, 2026. This announcement aligns with the company’s commitment to transparency and adherence to regulatory requirements.
Preferential Issue Details
The preferential issue involved the allotment of Equity Shares and Fully Convertible Warrants. The Equity Shares were allotted on April 5, 2025, and the Share Warrants were subsequently converted into Equity Shares on December 13, 2025. The total amount raised through these instruments was Rs. 1,317.50 Lakhs for Equity Shares and Rs. 374.98 Lakhs for the warrants.
Confirmation of Fund Usage
In its statement, Relic Technologies confirmed that the proceeds from this issue have been utilized strictly in line with the stated objectives. These objectives were initially presented and approved in the explanatory statement for resolutions passed at the Extra-Ordinary General Meeting held on March 18, 2025. The utilization for the quarter ended June 30, 2026, has been verified to be in accordance with these original plans.
Audit Committee Review
A statement confirming the adherence to the stated objects of fund utilization and the absence of any deviation or variation during the quarter was presented to and reviewed by the Audit Committee. The committee met on August 13, 2026, to review these findings, ensuring compliance and oversight. The enclosed statement details that the funds raised were intended for general corporate purposes, including meeting working capital requirements, investment and/or acquisition of entities, further investment, and granting of loans to other entities.
Statement on Deviation/Variation
The company’s filing includes a detailed breakdown of the fund-raising exercise. The original objects for the funds raised included general corporate purposes. For the quarter ended June 30, 2026, the reported funds utilized amounted to Rs. 67.50 Lakhs against an original allocation of Rs. 1,692.48 Lakhs, with a noted Nil deviation or variation. The Audit Committee’s review indicated that the utilization of proceeds from the preferential issue has been noted and is in line with the objects of the issue.
Source: BSE
