Aimtron deploys Rs 45.48 crore of warrant proceeds by September

Aimtron Electronics Limited deployed Rs 45.48 crore of preferential-warrant proceeds by September 30, 2026, from Rs 76.66 crore received, leaving Rs 31.18 crore unutilised. Its utilisation certificate shows Rs 28.42 crore went to Green Field Project - Phase I, the largest of three disclosed uses.

How much warrant money has Aimtron received and used?

Aimtron received Rs 76.66 crore by September 30, 2026, against the Rs 94.57 crore planned from its final preferential-warrant allotment, and used Rs 45.48 crore. The remaining Rs 31.18 crore was unutilised from money already received, while Rs 17.91 crore was shown separately as the balance amount to be received.

The preferential issue was raised on September 3, 2025. The certificate states that Rs 23.64 crore, equal to 25% of the issue price, was received upfront in September 2025. It also lists Rs 53.01 crore as funds for conversion into equity, with a parenthetical note that Rs 43.04 crore had been received by September 30, 2026.

The difference between the Rs 94.57 crore final issue amount and Rs 76.66 crore reported receipts is Rs 17.91 crore. This distinction matters because the Rs 31.18 crore balance is cash received but not used, whereas the Rs 17.91 crore balance had not been received as of September 30, 2026.

Where has Aimtron deployed the Rs 45.48 crore?

Aimtron deployed Rs 28.42 crore on Green Field Project - Phase I by September 30, 2026, making it the largest recorded use of the Rs 45.48 crore spent. The issue document had identified Rs 53.07 crore for this object, leaving Rs 24.65 crore of that disclosed amount not yet recorded as utilised.

Aimtron used Rs 7.06 crore for future expansion aligned with mergers and joint ventures across the globe, compared with a disclosed allocation of Rs 21.80 crore. The resulting gap of Rs 14.74 crore was larger than the Rs 9.70 crore gap between the Rs 19.70 crore corporate-purpose allocation and the Rs 10.00 crore deployed for that purpose.

General corporate purpose accounted for Rs 10.00 crore of spending, more than the Rs 7.06 crore recorded for future expansion but less than the Rs 28.42 crore used on the Green Field Project - Phase I. The certificate gives aggregate figures of Rs 31.18 crore unutilised and Rs 17.91 crore yet to be received, without allocating either amount among its three stated objects.

The reported allocation pattern differs from utilisation to date. Green Field Project - Phase I represented Rs 53.07 crore of the Rs 94.57 crore planned use, while future expansion represented Rs 21.80 crore and corporate purpose Rs 19.70 crore; actual deployment was led by the greenfield project at Rs 28.42 crore.

What is the status of Aimtron's preferential warrants?

Aimtron's final allotment covered 13,89,388 preferential warrants at Rs 680.64 per warrant, for an intended raise of Rs 94.57 crore. The certificate says the total offer was initially for Rs 98.50 crore, but the amount linked to the final allotment was lower at Rs 94.57 crore.

Aimtron converted 10,38,454 equity share warrants into an equivalent number of equity shares during the year, according to the certificate dated November 4, 2026. The filing identifies 3,50,934 warrants as the remaining balance, meaning the converted number exceeded the outstanding number by 6,87,520 warrants.

The remaining 3,50,934 warrants are to be converted into equity shares upon receipt of balance consideration from the respective holders. The stated deadline is on or before March 2, 2027, providing a scheduled date for the outstanding warrants and the Rs 17.91 crore balance amount shown in the utilisation certificate.

The certificate reports both the funds position at September 30, 2026 and the warrant-conversion position disclosed on November 4, 2026. It does not provide an object-wise schedule for the Rs 31.18 crore still unutilised or specify a project completion date for the Rs 53.07 crore Green Field Project - Phase I allocation.

What does Aimtron's utilisation certificate say?

Aimtron's utilisation certificate records Rs 45.48 crore used, Rs 31.18 crore unutilised from receipts and Rs 17.91 crore still to be received as of September 30, 2026. S P V P & Co LLP issued the certificate on November 4, 2026, pursuant to NSE Circular No. NSE/CML/2024/23 dated September 5, 2024.

The certificate presents the Rs 76.66 crore received as a total figure rather than separating receipts by each of the three objects. It similarly presents the Rs 31.18 crore unutilised amount at the overall issue level, so the filing does not establish how much of the unused proceeds is designated for the Rs 53.07 crore greenfield allocation, Rs 21.80 crore expansion allocation or Rs 19.70 crore corporate-purpose allocation.

The Rs 45.48 crore deployed is lower than the Rs 94.57 crore total planned use because only Rs 76.66 crore had been received at the reporting date. The certificate’s total figures reconcile the received proceeds into Rs 45.48 crore utilised and Rs 31.18 crore unutilised, while treating Rs 17.91 crore as consideration still to be received.

The disclosure also separates the original funding event from subsequent conversion. Rs 23.64 crore was received upfront in September 2025, and the filing reports 10,38,454 conversions by the November 4, 2026 certificate date, with conversion of the remaining 3,50,934 warrants subject to payment by holders.

Conclusion

Aimtron had used Rs 45.48 crore of the Rs 76.66 crore received through its preferential warrants by September 30, 2026, with Rs 28.42 crore directed to Green Field Project - Phase I. The certificate distinguishes between Rs 31.18 crore held but unutilised and Rs 17.91 crore that remained to be received, providing separate measures of deployment and funding still pending.

The next disclosed milestone is March 2, 2027, when the remaining 3,50,934 warrants are due for conversion upon receipt of balance consideration from holders. Subsequent disclosures can show whether the Rs 31.18 crore unutilised balance is deployed and how further proceeds are applied across the Rs 53.07 crore greenfield project, Rs 21.80 crore expansion plan and Rs 19.70 crore corporate-purpose allocation.