Kanpur Plastipack Limited — Others, 05-02-2025: Utilisation of Funds

Kanpur Plastipack Limited confirms that there has been no deviation in the utilization of proceeds from its preferential issue of convertible warrants, which raised ₹20.50 crores. As of December 31, 2024, the company has received ₹14.37 crores, with ₹6.16 crores as upfront payment for 30% of the issued warrants and ₹8.21 crores from the conversion of additional warrants. The remaining ₹6.12 crores will be received upon further conversion of warrants into equity shares within the specified timeframe. All funds are allocated for repayment of borrowings and general corporate purposes.