MITCON Consultancy & Engineering Services Limited has reported on the utilisation of funds from its Rights Issue for the quarter and financial year ended March 31, 2025.

Key details:

• There is no deviation in the use of proceeds from the objects stated in the offer documents.
• The gross proceeds from the issue were ₹3223.40 Lakhs.
• As of March 31, 2025, the company had received ₹805.85 Lakhs from partly paid equity shares.
• Issue related expenses amounted to ₹50.00 Lakhs.
• The net proceeds yet to be utilised from the total issue are ₹2367.55 Lakhs.
• Utilisation of the ₹805.85 Lakhs received as of March 31, 2025, included:
  • Investment in MITCON Sun Power Limited: ₹247.25 Lakhs
  • Upgradation of Environment Laboratory: ₹25.00 Lakhs
  • Investment in MITCON Nature Based Solutions Limited: ₹150.00 Lakhs
  • Investment in Front End Engineering Design Development: ₹65.00 Lakhs
  • Acquisition of instruments for training: ₹16.85 Lakhs
  • Capital expenditure for refurbishment of office space: ₹100.00 Lakhs
  • Part-funding incremental working capital requirements: ₹110.00 Lakhs
  • General Corporate purposes: ₹41.75 Lakhs
  • Issue expenses: ₹50.00 Lakhs
• Total utilisation of received funds as of March 31, 2025, was ₹805.85 Lakhs.
• The unutilised bank balance from the received funds was ₹1.34 Lakhs as of March 31, 2025.