Please find the Monitoring Agency Report attached.
AFFLE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited, the monitoring agency, has submitted its report for Affle 3i Limited's INR 737.43 crore preferential issue. Of the total proceeds, INR 238.32 crore (32%) has been deployed so far, with INR 499.11 crore remaining unutilized. The funds are deployed across four objectives: technology development (INR 37.58 crore deployed of INR 335 crore allocated), inorganic growth (INR 0 deployed of INR 150 crore), acquisition liability repayment (INR 75 crore fully deployed), and general corporate purposes (INR 125.74 crore deployed of INR 177.43 crore). The unutilized INR 562.76 crore is parked in fixed deposits with banks like Axis Bank, HDFC Bank, and Kotak Mahindra, plus overnight mutual funds. All projects remain on schedule for completion by March 2027. No material deviations were observed from the issue objects.
Positive for shareholders - the monitoring report confirms proper utilization of proceeds with no material deviations, and all projects are on track. The significant unutilized balance is safely deployed in liquid instruments.