ARIHANT · price
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Awaiting price reaction for this filing.
Arihant Foundations & Housing Ltd submitted a Monitoring Agency Report from ICRA Limited for the quarter ended September 30, 2025, covering the use of proceeds from its November 2024 preferential issue of Rs. 108.60 crore (13.65 lakh equity shares and 8.97 lakh warrants at Rs. 480 each). Of this, Rs. 76.31 crore has actually been received (only 25% of warrant money has come in) and is fully utilized; the remaining Rs. 32.29 crore is still pending receipt. Key deployment includes Rs. 45.61 crore (100%) for acquisition and development of new real estate projects, Rs. 16.57 crore as investments/loans to subsidiaries, Rs. 10.22 crore for bank loan repayment, Rs. 0.89 crore for working capital, and Rs. 3.02 crore for general corporate purposes (including issue expenses and advance tax). ICRA confirmed there is no deviation from the stated objects of the issue, and the company has put Rs. 0.24 crore in an ICICI Bank account as idle proceeds.
This is a routine regulatory compliance filing with no negative flags for shareholders - ICRA has confirmed funds are being used exactly as promised at the time of the preferential issue. Minor watchpoint: environmental clearance is still pending for one subsidiary project, which could affect timing of that specific deployment.