Avantel Limited has completed the allotment of 1,91,140 equity shares to eligible employees under its Employee Stock Option Plan 2023 (ESOP 2023). The ESOP Allotment Committee approved this allotment on January 28, 2026, as part of the company's employee incentive program.

Share Allotment Details

The allotment involved 1,91,140 equity shares with a face value of Rs.2 each, issued to eligible employees who exercised their vested options under ESOP 2023. The shares were allotted at an exercise price of Rs.50 per share, with a premium of Rs.48 per share.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The total number of equity shares outstanding has risen from 26,54,66,930 shares to 26,56,58,070 shares.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, detailed disclosures have been provided pursuant to Regulation 10(c) of SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

The newly allotted shares carry the ISIN number INE005B01027 and will rank pari passu with existing equity shares. The shares are identical in all respects to the company's existing shares and do not carry any lock-in restrictions.

Stock Exchange Listing

Avantel Limited's shares are listed on both BSE Limited (Scrip Code: 532406) and National Stock Exchange of India Limited (Symbol: AVANTEL). The company has informed both exchanges about this allotment as per regulatory requirements. Previous filings related to ESOP 2023 were made with BSE on November 16, 2023, and May 30, 2024, while NSE filing was completed on October 16, 2024.

Avantel Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, in compliance with SEBI regulations regarding the utilization of funds raised through its rights issue. The report, prepared by CARE Ratings Limited as the monitoring agency, provides a comprehensive overview of how the company has deployed the Rs. 80.91 crore raised through the rights issue.

Rights Issue Fund Utilization Progress

During Q3FY26, Avantel Limited utilized Rs. 16.43 crore from the rights issue proceeds, bringing the total utilization to Rs. 54.65 crore since the issue completion. The funds were primarily deployed towards the establishment of a new manufacturing facility for electronics, antennas, and connectors for commercial, defense, and aerospace applications.

Object-wise Fund Deployment

The rights issue proceeds are being utilized across four main objectives as outlined in the original offer document. The manufacturing facility project has seen significant progress with Rs. 33.76 crore utilized out of the allocated Rs. 53.85 crore.

The new manufacturing facility is being established at Survey No. 243 in Kondaparva Village, Visannapeta Mandal, NTR District, Andhra Pradesh, for the design, development, and manufacturing of electronics, antennas, and connectors.

Monitoring Agency Assessment

CARE Ratings Limited, serving as the monitoring agency, confirmed that there were no deviations from the objects stated in the offer document. The agency verified that all utilization aligned with the disclosed purposes and no material deviations were observed compared to earlier monitoring reports.

Key monitoring findings include:

• All proceeds utilized as per offer document disclosures
• No material deviations requiring shareholder approval
• No changes in means of finance for disclosed objects
• No unfavorable events affecting project viability

Deployment of Unutilized Funds

The remaining Rs. 26.26 crore of unutilized proceeds has been strategically deployed in fixed deposits and monitoring accounts to ensure capital preservation while earning returns.

Project Timeline and Compliance

Both ongoing projects - the manufacturing facility and GSaaS infrastructure establishment - are scheduled for completion by March 31, 2026, as per the original offer document timeline. The monitoring agency noted no delays in implementation, with projects proceeding as planned.

The submission of this quarterly monitoring report demonstrates Avantel Limited's commitment to regulatory compliance and transparent fund utilization, providing stakeholders with clear visibility into the deployment of rights issue proceeds across stated business objectives.