kizi apparels has confirmed that there was no deviation in the utilization of proceeds raised through a preferential issue during FY26. The company raised ₹89,28,000 on March 24, 2026, with the primary objective of meeting its working capital requirements. According to the audit report dated May 11, 2026, the funds were deployed strictly in accordance with the original allocation approved by the board.

The statutory auditor, M/s. D G M S & Co., reviewed the fund usage for the half-year and year ended March 31, 2026. The audit confirmed that the entire amount raised was utilized for the specified purposes without any variation. The report also noted that a monitoring agency was not applicable for this fund-raising exercise.

Allocation of Proceeds

The proceeds were allocated across two main categories: working capital requirements and general corporate purposes. The following table details the original allocation, modified allocation, and the actual funds utilized for each object.

The audit committee reviewed the utilization of funds and found no discrepancies requiring further explanation. The auditors, M/s. D G M S & Co., signed off on the statement, confirming that the company adhered to the regulatory framework governing preferential issues. The report was filed by Partner Jyoti J Kataria, bearing UDIN 26116861SKITOS5968.

Kizi Apparels Limited convened a Board of Directors meeting on Tuesday, 12th May, 2026, at its registered office located at H-629, Phase-II, RIICO Industrial Area, Sitapura, Jaipur - 302022, Rajasthan. The meeting commenced at 3:30 P.M. and concluded at 4:00 P.M., during which the board considered and approved the receipt of the 8th tranche of consideration for the allotment of Convertible Warrants.

Receipt of 8th Tranche Consideration

The board's approval pertains to Convertible Warrants issued under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, on a preferential basis. The warrants were allotted to persons/entities belonging to the Promoter/Promoter Group and public category, in compliance with applicable regulatory provisions. This development follows a reference to the earlier Board Meeting held on 24th March, 2026, and has been disclosed pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Warrant Issuance Details

The key parameters of the Convertible Warrant issuance and the 8th tranche consideration are outlined below:

Allottees

The consideration of ₹25,99,650/- (Rupees Twenty-Five Lakhs Ninety-Nine Six Hundred Fifty Only) was received from the following allottees:

• Ms. Kiran Nathani
• Mr. Abhishek Nathani
• Surinder Goel HUF

The outcome of the meeting was communicated to the Bombay Stock Exchange Limited by Abhishek Nathani, Managing Director (DIN: 10086861), in accordance with applicable listing and disclosure requirements.