Motisons Jewellers Limited has submitted the Monitoring Agency Report for the quarter ended March 31, 2026, concerning the utilization of proceeds from its Preferential Issue. Issued by CRISIL Ratings Limited, the report details the deployment of funds raised through Fully Convertible Warrants. The company confirmed that the utilization of proceeds aligns with the objects disclosed in the notice to shareholders dated August 14, 2024.

The Preferential Issue, which opened on October 5, 2024, had a total issue size of ₹170.00 crore. The proceeds were earmarked for issue-related expenses, repayment of outstanding unsecured loans, general corporate purposes, and working capital requirements. The monitoring agency verified that there were no deviations from the objects stated in the offer document and no major deviations from earlier reports.

Utilization Status

As of March 31, 2026, the company had received ₹64.56 crore of the total issue proceeds. The remaining ₹105.44 crore was pending receipt from warrant holders. During the quarter, ₹16.99 crore was utilized, bringing the total amount utilized to ₹64.56 crore. The unutilized amount at the end of the quarter stood at ₹105.44 crore.

The following table summarizes the utilization of proceeds for the quarter:

Warrant Lapse and Impact

A significant development highlighted in the report is the lapse of 82,70,000 warrants on April 4, 2026. This occurred due to the non-receipt of the requisite warrant exercise price within 18 months of allotment. Consequently, the subscription amount received against these warrants was forfeited.

The forfeiture has resulted in a reduction of the total issue proceeds. The report notes that this shortfall has impacted the viability of the objects of the issue. The company stated that the means of finance for the disclosed objects have not changed, but unfavorable events affecting the viability of the objects were observed.

Motisons Jewellers Limited has successfully concluded its postal ballot proceedings on April 25, 2026, seeking shareholder approval for critical corporate actions including fund raising and authorized share capital enhancement. The company informed both BSE Limited and National Stock Exchange of India Limited about the completion of the postal ballot process through a regulatory filing.

Postal Ballot Resolutions

The Board of Directors, in their meeting held on March 6, 2026, decided to seek member consent through postal ballot for two key resolutions:

E-Voting Process and Timeline

The company engaged MUFG Intime India Private Limited to provide e-voting facilities to all members. The remote e-voting process followed a structured timeline:

Regulatory Compliance and Scrutiny

The postal ballot was conducted in accordance with Section 108 and 110 of the Companies Act, 2013, read with Rule 20 and 22 of the Companies (Management and Administration) Rules, 2014. The company also complied with various MCA circulars and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Akshit Kumar Jangid, Practicing Company Secretary (FCS:11285; CP:16300) and partner of M/s Pinchaa & Co., Jaipur, was appointed as the scrutinizer to ensure fair and transparent scrutiny of the voting process.

Communication and Next Steps

The postal ballot notice was sent to all members who had registered their email addresses with the company or depository participants and whose names appeared in the Register of Members as of the cut-off date. An advertisement about the completion of postal ballot notice dispatch was published in Financial Express (English Edition) and Business Remedies (Hindi Edition) on March 27, 2026.

The scrutinizer will submit the report within the stipulated timeline, after which the company will declare the results and communicate them to the stock exchanges as required under regulatory provisions. The filing was signed by Bhavesh Surolia, Company Secretary & Compliance Officer, and communicated to both BSE and NSE on April 25, 2026.