Monitoring Agency Report for the quarter ended March 31, 2025 is attached.
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Ami Organics Limited has submitted the Monitoring Agency Report from CARE Ratings for its Rs. 400 crore Qualified Institutions Placement (QIP) conducted in June 2024. The report confirms no deviation from the stated objects of the issue and all proceeds have been fully utilised as of Q4FY25. Of the total Rs. 388.43 crore earmarked, Rs. 250 crore was used to repay borrowings (completed in Q2FY25), Rs. 50 crore for capital expenditure including captive solar power projects, and Rs. 88.43 crore for general corporate purposes. During Q4FY25 alone, Rs. 32.43 crore was deployed for capex and Rs. 63.37 crore for general corporate purposes. The 10.80 MW captive solar power plant was commissioned on April 3, 2025, with the second solar project ongoing and delayed due to late regulatory approvals.
Positive for shareholders — confirms disciplined use of QIP proceeds with no deviations, completion of debt repayment, and progress on capex including the solar power project. No idle funds or governance red flags raised by the monitoring agency.