Goldiam International Revises QIP Proceeds Utilization, Extends Deadline to Dec 2027

Goldiam International Limited announced that its Board of Directors, in a meeting held on September 2, 2026, approved revisions in the utilization and deployment of unutilized Qualified Institutions Placement (QIP) proceeds. The company had raised ₹20,204.98 lakhs (approximately ₹19,520.98 lakhs net proceeds) through QIP.

As of June 30, 2026, ₹49.25 crore of the QIP proceeds had been utilized, leaving ₹152.80 crore unutilized. The Board approved a revised store program, reducing the number of new brand-exclusive stores from 63 to 60, with 25 already opened and 35 remaining to be established. A total of ₹107.80 crore will be utilized towards this revised store program. Additionally, ₹45.00 crore will be allocated towards General Corporate Purposes (GCP), an increase from the initial ₹25.23 lakhs, while adhering to the maximum GCP utilization limit of 25% of Gross Proceeds (₹50.51245 crore).

The timeline for the utilization of the unutilized QIP proceeds has been extended from March 31, 2027, to December 31, 2027. This extension is attributed to the revised retail expansion strategy, the adjusted store count, and phased utilization for rentals, occupancy, marketing, and brand promotion. The revised utilization plan remains subject to the terms of the Placement Document and applicable laws.