Garnet International Ltd — Updates, 14-08-2025: Company Update

Garnet International Limited has provided an update on the utilization of funds raised through its Preferential Issue of convertible Equity Warrants. The company received INR 8.84 Cr by June 30, 2025, out of the total issue size of INR 35.37 Cr. The report confirms that there is no deviation in how these funds have been used compared to the original stated objectives. Specifically, INR 7.79 Cr was utilized for strategic investments, INR 0.58 Cr for investment in a subsidiary, and INR 0.23 Cr for general corporate purposes. The remaining INR 0.24 Cr is currently held as a fixed deposit, ensuring transparency on fund deployment.