Kesar India Ltd — Important, 15-05-2026: Company Update

Kesar India has released its Monitoring Agency Report by Crisil Ratings for the quarter ended March 31, 2026, confirming that proceeds from its Preferential Issue (PI) were utilized as per disclosed objects, with no deviations. The PI raised approximately Rs 273.72 crore. Out of this, roughly Rs 88.30 crore was deployed for land acquisition and project development, and Rs 50.13 crore for general corporate purposes. About Rs 11.00 crore was adjusted against loans. Total proceeds received till the quarter-end were around Rs 169.75 crore, with Rs 124.29 crore unutilized. Investors note the warrant issue price was Rs 350, significantly lower than the market price of Rs 1,246 per share.