Quarterly Updates14 May 2026, 05:31 pm
Suraj Estate: No Deviation in Preferential Issue Funds (Q4 FY26)
AI Summary
Suraj Estate Developers Ltd reports no deviation in the utilization of funds raised through a preferential issue for the quarter ended March 31, 2026. The funds, amounting to ₹343.39 Cr, were raised on October 15 & 18, 2024, and allocated towards land acquisition, working capital, general corporate purposes, and issue-related expenses. The company confirms that the funds were utilized as per the objects stated in the explanatory statement of the General Meeting held on September 14, 2024. Convertible warrants were forfeited on April 8, 2026, due to non-payment of the balance amount by warrant holders.
Key Highlights
- Suraj Estate reports no deviation in the use of preferential issue proceeds for Q4 FY26.
- ₹343.39 Cr raised via preferential issue on Oct 15 & 18, 2024.
- Funds allocated to land acquisition, working capital, and general corporate purposes.
- Convertible warrants forfeited on April 8, 2026, due to non-payment.
- Monitoring agency Care Rating Limited confirms no deviation.
Price Impact
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