Ashika Credit Capital Ltd — Updates, 02-08-2025: Company Update

Ashika Credit Capital has provided updates on the utilization of funds from its preferential share issues. For the October 2024 issue, which aimed to raise INR 330.48 Cr, the company has successfully utilized INR 329.11 Cr. These funds were largely deployed as planned: INR 199.11 Cr for investments, INR 35 Cr for debt repayment, INR 45 Cr for working capital, and INR 50 Cr as a loan to a group company, with no deviations observed. For the December 2024 warrant issue of INR 109.62 Cr, only 25% (INR 27.41 Cr) has been subscribed and utilized, primarily for investments (INR 2.41 Cr) and a group loan (INR 25 Cr), indicating further capital raising is pending.