BOROSIL RENEWABLES LIMITED — Important, 05-03-2025: Updates

The Board of Directors of Borosil Renewables has approved a restructuring of the utilization plan for proceeds from the preferential issue of equity shares and warrants. This decision follows undersubscription and non-participation by some proposed allottees. Key changes include a complete removal of the allocation for the repayment of loans (previously set at ₹15 Cr), while the allocation for satisfying the liability from a standby letter of credit remains unchanged at ₹185 Cr. The capital expenditure for expanding solar glass manufacturing capacity in Bharuch has been revised down from ₹375 Cr to ₹332.66 Cr. Simultaneously, the general corporate purpose allocation of ₹125 Cr has been eliminated. Overall, the total estimated utilization has been reduced from ₹700 Cr to ₹517.66 Cr. This restructuring reflects a strategic shift in funding priorities, with implications for future operational and financial flexibility.