Monitoring Agency Report for the quarter ended March 31, 2025
AFFLE · price
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ICRA Limited has filed its Monitoring Agency Report on Affle 3i's use of proceeds from a preferential issue worth ₹749.02 crore (69 lakh equity shares at ₹1,085.54 each). Net proceeds were ₹737.43 crore after slightly higher issue expenses. As of March 31, 2025, the company has utilized ₹238.32 crore out of the total ₹737.43 crore raised. Subsidiary liability repayment is fully done (₹75 crore), general corporate purposes are ₹125.74 crore spent (mostly on working capital of foreign subsidiaries and loan repayment), while ₹37.58 crore has been used for technology development. About ₹499.11 crore remains unutilized and has been parked in fixed deposits with Axis Bank, Axis Bank Singapore, and overnight mutual funds, earning ₹16.08 crore in returns with a market value of ₹541.65 crore. ICRA confirms no material deviation from stated objects and all projects remain on schedule for completion by March 2027.
The report confirms disciplined use of preferential issue funds with no deviations, which is reassuring for shareholders. The unutilized portion is generating healthy returns (~5-7.4%) through bank deposits and liquid funds, adding to investor value while deployment continues toward technology development and inorganic growth over the next two years.