Borosil Renewables Ltd has restructured the use of proceeds from its preferential issue of equity shares and warrants due to undersubscription, reducing total utilization from Rs. 700 crores to Rs. 517.66 crores, primarily by eliminating loan repayment and general corporate purposes. Key allocations include Rs. 185 crores for liabilities and Rs. 332.66 crores for solar glass production expansion.