AEIM deploys Rs 74.03 crore across two preferential issues

Artificial Electronics Intelligent Material Limited reported Rs 74.03 crore utilised from two preferential issues as of September 30, 2026, including Rs 2.25 crore used for company acquisitions from a Rs 10.39 crore allocation in its October 2024 issue. The two issue-wise utilisation tables report Rs 20.36 crore and Rs 53.67 crore used, respectively.

How much did AEIM use from its preferential issues?

AEIM reported Rs 74.03 crore of utilisation across preferential issues raised on October 19, 2024 and November 17, 2025, as of September 30, 2026. The October 2024 issue accounted for Rs 20.36 crore of reported use, while the November 2025 issue accounted for Rs 53.67 crore.

The October 2024 statement lists Rs 28.50 crore as the amount raised, while the November 2025 statement lists Rs 53.67 crore. The reported utilisation figures for the two issues total Rs 74.03 crore, based on the rounded crore amounts in the company’s issue-wise tables.

AEIM certified that there was no deviation or variation in the use of funds from either issue during the quarter and half year ended September 30, 2026. Both filings also state that no monitoring agency was applicable, and list no comments from the audit committee or auditors.

What did AEIM spend from the October 2024 issue?

AEIM reported Rs 20.36 crore used from the October 19, 2024 preferential issue by September 30, 2026. This comprised Rs 9.00 crore each for acquisition of land and purchase of machinery, Rs 2.25 crore for acquisitions of companies, and Rs 0.11 crore for general corporate purpose.

No utilisation was reported for construction of a building in the October 2024 table. The company’s modified-allocation column shows Rs 9.00 crore for land, Rs 9.00 crore for machinery, Rs 0.11 crore for general corporate purpose and Rs 10.39 crore for acquisitions of companies.

AEIM’s acquisition-of-companies line had Rs 2.25 crore of reported use against its Rs 10.39 crore modified allocation as of September 30, 2026. The filing says unutilised proceeds were part of bank balance for each of the five stated objects in the October 2024 issue.

How much of AEIM’s company-acquisition allocation remains unused?

AEIM had not reported use of Rs 8.14 crore from the Rs 10.39 crore modified allocation for acquisitions of companies as of September 30, 2026. This amount is calculated from the reported Rs 2.25 crore utilisation against that allocation, and the company stated that unutilised proceeds formed part of bank balance.

The acquisition line was the largest incomplete stated use in the October 2024 utilisation table. Land and machinery each showed Rs 9.00 crore of use against Rs 9.00 crore modified allocations, while general corporate purpose showed Rs 0.11 crore used against a Rs 0.11 crore allocation.

The October 2024 filing lists original allocations of Rs 10.00 crore each for land, building construction, machinery and company acquisitions, plus Rs 0.16 crore for general corporate purpose. Those original allocations total Rs 40.16 crore, while the modified-allocation column totals Rs 28.50 crore; AEIM did not provide a narrative reconciliation between the two columns.

How did AEIM use the November 2025 issue proceeds?

AEIM reported Rs 53.67 crore utilised from the November 17, 2025 preferential issue of equity shares and convertible warrants by September 30, 2026. The filing classified Rs 39.02 crore as working capital through equity shares and Rs 14.65 crore as working capital through convertible warrants.

The November 2025 statement lists Rs 49.87 crore as the original allocation for the equity-share working-capital line and Rs 47.20 crore for the convertible-warrant working-capital line. The two original allocations total Rs 97.07 crore, whereas the modified-allocation column shows Rs 39.02 crore only for the equity-share line.

Unlike the October 2024 table, the November 2025 utilisation table contains no remarks on unutilised proceeds. It reports a total of Rs 53.67 crore used across the two working-capital categories, matching the Rs 53.67 crore amount raised shown in the statement’s rounded crore presentation.

Did AEIM report any deviation in use of proceeds?

AEIM reported no deviation or variation in the use of proceeds from either preferential issue for the quarter and half year ended September 30, 2026. The certification covers the October 2024 issue and the November 2025 issue separately.

The November 2025 filing defines deviation or variation as a change in the objects or purposes for which funds were raised, a difference in actual use against originally disclosed amounts, or a change in terms of a fund-raising contract. Its table nevertheless shows Rs 97.07 crore of original allocations and Rs 39.02 crore of modified allocations without a narrative explanation.

The October 2024 statement similarly records no deviation or variation despite showing Rs 40.16 crore of original allocations and Rs 28.50 crore of modified allocations. AEIM’s September 30, 2026 filing does not disclose a revised acquisition plan, a target company or a date for further use of the Rs 10.39 crore company-acquisition allocation.

Conclusion

AEIM’s September 30, 2026 disclosure records Rs 74.03 crore of reported utilisation across two preferential issues. The October 2024 issue funded Rs 9.00 crore each for land and machinery and Rs 0.11 crore for general corporate purpose, while the November 2025 issue reported Rs 53.67 crore of use in working-capital categories.

The next disclosure to watch is whether AEIM reports further spending from the Rs 10.39 crore allocation for acquisitions of companies, of which Rs 2.25 crore had been used by September 30, 2026. Investors can also track whether later filings provide a reconciliation between the original and modified allocation columns, which differ by Rs 11.66 crore in the 2024 table and Rs 58.05 crore in the 2025 table.