Garnet International Ltd — Important, 30-05-2026: Company Update

Garnet International Limited reported on the utilization of funds from its preferential issue of convertible equity warrants. The company confirmed there is no deviation or variation in how these funds have been used. Out of the total issue size of 35.37 Cr, the company has received 8.84 Cr as upfront consideration. This amount has been utilized towards strategic investments (7.89 Cr), investment in a subsidiary (0.65 Cr), and general corporate purposes (0.30 Cr), aligning with the stated objectives. The remaining 75% of the funds will be received upon warrant conversion.