Swaraj Suiting Files Q2FY27 Monitoring Report on ₹226.48 Crore Preferential Issue

Swaraj Suiting has filed a monitoring agency report for the quarter ended September 30, 2026, covering ₹226.48 crore raised through a preferential issue of equity shares and convertible warrants. ScanX reported that Crisil Ratings prepared the report as monitoring agency under Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Monitoring Agency Agreement dated December 26, 2025.

How Swaraj Suiting's Preferential Issue Was Structured

The issue ran from January 26, 2026 to February 5, 2026 for equity shares and to February 7, 2026 for warrants. The original proposed size was ₹102.74 crore for equity and ₹158.76 crore for warrants; after undersubscription, the revised sizes were ₹79.56 crore and ₹146.92 crore. Equity allotment was adjusted by board resolution dated February 6, 2026, and 62,25,500 warrants were allotted against 67,27,000 proposed, revised by board resolution dated February 7, 2026. Warrants convert at ₹236 each.

Crisil Ratings noted that working capital utilisation exceeded the revised object-wise allocation by ₹3.23 crore from equity proceeds and ₹4.80 crore from warrant proceeds during the quarters ended March 31, 2026 and June 30, 2026, reducing funds for capital expenditure. Shareholders ratified the excess utilisation by resolution dated September 30, 2026. The equity variation was 4.06% of the respective issue proceeds and the warrant variation 3.27%, both within the 10% permissible limit.

Swaraj Suiting's Utilisation and Warrant Receipts

According to akta.pro company records, Swaraj Suiting received SEBI approval for a preferential issue of warrants on January 24, 2026. Aggregate utilisation stood at ₹134.44 crore against total monitored proceeds of ₹226.48 crore, leaving ₹92.04 crore unutilised as at September 30, 2026. The company had received ₹54.93 crore from warrant holders, and the balance of ₹91.99 crore is expected within 18 months from the allotment date of February 7, 2026.

Swaraj Suiting's Path to the Preferential Issue

On September 23, 2026, ScanX reported that Swaraj Suiting would hold a board meeting on September 28, 2026 to consider raising funds via a preferential issue, with the trading window closed from September 23, 2026. On August 18, 2026, ScanX reported that the promoter group's stake fell from 65.01% to 63.99% following warrant conversions and share sales between March 31, 2026 and August 13, 2026. On August 8, 2026, Business News Today reported that Swaraj Suiting's net profit doubled to Rs 16.22 crore in Q1 and that it was seeking mainboard migration approvals from NSE and BSE.

Swaraj Suiting's Mainboard Migration Approvals

Swaraj Suiting received in-principle approval for migration from the NSE Emerge SME platform to the NSE Main Board on July 23, 2026, and to the BSE Main Board on July 21, 2026, according to akta.pro company records.