Monitoring Agency Report for the quarter ended March 31, 2026- in relation to the Rights Issue of Ace Software Exports Limited
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ace Software Exports Ltd's Rights Issue (Nov-Dec 2025) raised ₹27.08 crore out of the planned ₹60.18 crore, with shares priced at ₹49.5 each as partly paid-up instruments. Brickwork Ratings, the monitoring agency, confirmed no deviations from the stated use of proceeds. The company deployed ₹14.26 crore by March 31, 2026, with ₹3 crore into QeMFG (subsidiary), ₹3.52 crore for Theia Education acquisition, ₹5.52 crore for additional Theia investment (fully utilized), ₹2.80 crore for general corporate purposes, and ₹0.39 crore for issue expenses. The remaining ₹12.82 crore sits largely in ICICI Bank fixed deposits (₹10.50 crore at 5.25%) and a monitoring account (₹1.36 crore). Most planned initiatives remain ongoing as per the offer document timeline.
The rights issue was undersubscribed at 45%, leaving significant capital still to be called up by the board. However, the monitoring report shows compliant fund utilization with no deviations, which is a positive signal for existing and potential shareholders regarding governance.