Swaraj Suiting: Deviation in Utilisation of Preferential Issue Proceeds

Swaraj Suiting Limited has submitted a Qualified Monitoring Agency Report for the quarter ended June 30, 2026, issued by CRISIL Ratings Limited. The report indicates deviations in the utilization of proceeds from a preferential issue of equity shares and convertible warrants. Specifically, ₹3.23 crore was utilized in excess for Working Capital under the Equity category, and ₹4.80 crore was over-utilized for Working Capital under the Warrant category. These excesses led to a corresponding shortfall in funds allocated for Capital Expenditure. The company did not provide supporting approvals for these excess utilizations.