Kesar India Limited has submitted its quarterly compliance statement to BSE Limited, confirming no deviations or variations in the utilization of proceeds from its preferential issue for the quarter ended March 31, 2026. The statement was filed pursuant to Regulation 32 of the SEBI Listing Regulations and relevant SEBI circulars.

Fund Raising Details

The company successfully raised funds through preferential issues with specific parameters and monitoring arrangements in place.

Fund Utilization Breakdown

Kesar India Limited allocated the raised funds across three primary objectives, with no deviations reported from the original plan.

Compliance and Governance

The fund utilization statement demonstrates the company's adherence to regulatory requirements and corporate governance standards. The conversion of unsecured loans into warrants has been completed as planned, while land acquisition and development projects, along with general corporate purposes, are progressing according to the company's strategic timeline.

Board and Committee Oversight

The quarterly statement received proper oversight from the company's governance structure. The Audit Committee reviewed the fund utilization details, and the Board of Directors formally recorded the statement during their respective meetings held on April 8, 2026. Managing Director Sachin Gopal Gupta signed the compliance documents on April 9, 2026.

The company's transparent reporting of fund utilization, with no deviations or variations noted, reflects its commitment to regulatory compliance and shareholder interests. The monitoring arrangement with Crisil Ratings Limited provides additional oversight for the preferential issue proceeds.

Kesar India Limited has announced the incorporation of a new step-down subsidiary in the United Arab Emirates as part of its business expansion strategy. The company informed BSE Limited on March 10, 2026, about the establishment of Oriole Trading FZ-LLC in Ras Al Khaimah, UAE.

Subsidiary Structure and Ownership

The new subsidiary was incorporated on February 27, 2026, through Kesar Middle East – FZCO, Dubai, which is a wholly owned subsidiary of Kesar India Limited. This structure makes Oriole Trading FZ-LLC a step-down subsidiary of the parent company.

Business Focus and Operations

Oriole Trading FZ-LLC has been established with specific business objectives focused on the technology sector. The company's primary activities will include:

• Trading of computer equipment
• Electronic devices trading
• Related requisites and accessories

The subsidiary is yet to commence its business operations and currently reports nil turnover. The incorporation aligns with Kesar India Limited's strategy to expand its business presence in international markets.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Toshiba Jain signed the disclosure document, ensuring all required details were provided to the stock exchange.

Strategic Implications

The establishment of this UAE-based subsidiary represents Kesar India Limited's commitment to expanding its operations in the Middle East region. The focus on computer equipment and electronic devices trading suggests the company is leveraging opportunities in the growing technology market in the UAE.

The transaction does not fall under related party transactions, and no governmental or regulatory approvals were required for the incorporation. The subsidiary's establishment provides Kesar India Limited with a strategic foothold in the UAE market for future business development.