<h1>Ramkrishna Forgings Reports Full Utilization of Funds Raised Through Preferential Equity Issue</h1>
Ramkrishna Forgings Limited has provided a statement regarding the utilization of funds raised through a preferential issue for the quarter ending June 30, 2026. The company confirmed that there was no deviation or variation in the use of the proceeds totaling Rs. 52.76 Crores.
The fund-raising activity involved the allotment of 3,35,000 Equity Shares to Riddhi Portfolio Private Limited and Promoter, upon the conversion of 3,35,000 warrants. These shares were issued at a rate of Rs. 1,575/- per Warrant, which represents 75% of the Warrant Issue price. The funds were raised on June 9, 2026.
A detailed overview of the fund raising and utilization was provided in an annexure detailing the transaction:
| Mode of Fund Raising | Total Amount Raised | Date of Funds Receipt |
|---|---|---|
| Allotment of 3,35,000 Equity Shares upon conversion of 3,35,000 Warrants | Rs. 52,76,25,000/- (Rs. 52.76 Crores) | June 9, 2026 |
The company confirmed that the use of funds did not deviate from the original objects defined for the issue. The utilization is summarized below:
| Original Object | Original Allocation (in Crores) | Funds Utilised (in Crores) | Deviation Status |
|---|---|---|---|
| Working Capital Repayment (including interest payments on working capital loans) | 1.58 | 1.58 | No Deviation |
| General Corporate Purpose (Upto 25% of Issue Proceeds) | 51.18 | 51.18 | No Deviation |
The combined total amount raised through the preferential issue was Rs. 52.76 Crores, and the utilization matched the allocated objects for both working capital repayment and general corporate purpose. The company also noted that India Rating & Research Private Limited served as the Monitoring Agency for this transaction.
RKFORGE Stock Price Movement
Today, Ramkrishna Forgings Limited saw its stock climb slightly, closing at ₹580.70 after edging up 0.09%. The equity traded within a range of ₹569.60 to ₹588.90, with nearly 3.25 million shares transacted during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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