In accordance with Regulation 32(6) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, the Monitoring Agency Report for the Fourth Quarter ended on March 31, 2025, issued by M/s. CRISIL Ratings Limited is enclosed herewith.
AETHER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Aether Industries filed the CRISIL Ratings Monitoring Agency Report for its June 2023 Qualified Institutional Placement (QIP), which had raised Rs 7,500 million (net proceeds of Rs 7,286.14 million). During Q4 FY25, the company utilised Rs 1,318.97 million, taking cumulative utilisation to Rs 4,989.87 million (about 68% of net proceeds), leaving Rs 2,296.27 million unutilised. The unutilised amount is parked in two fixed deposits with ICICI Bank (Rs 1,353.63 million and Rs 857.92 million at 7.5% return) plus a monitoring account of Rs 84.71 million. The Manufacturing Facility 3 expansion, originally targeted for FY25 completion, has been delayed to Q4 FY26 due to a change in product and customer, though work is in progress. No deviation from stated objects was reported, and all utilisation is in line with the offer document.
Mildly negative due to the delay in the Manufacturing Facility 3 capex timeline, but largely neutral-to-positive overall — about 68% of QIP proceeds have been deployed on schedule with no deviations, and idle funds are earning a healthy 7.5% return in FDs rather than sitting idle.