Monitoring Agency Report for the Q4- 2025-26
ARIHANT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited has submitted the Q4 FY2026 Monitoring Agency Report for Arihant Foundations' Rs 108.60 crore preferential allotment (equity shares + warrants at Rs 480 per share). As of March 31, 2026, only Rs 76.31 crore has been received (full equity proceeds of Rs 65.55 crore plus 25% warrant proceeds of Rs 10.76 crore). The company has fully utilized all received funds across five stated objects: Rs 45.61 crore towards new real estate project acquisitions, Rs 16.57 crore in subsidiary investments (including loans to Escapade Services LLP, Vilaya Properties LLP, and wholly-owned subsidiary Verge Reality Pvt. Ltd.), 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). Rs 32.29 crore remains unutilized simply because those warrant proceeds are yet to be received. No deviations from the stated objects were observed. Environmental clearance for one subsidiary project is still in process.
Positive for investors — the report confirms clean utilization of all received proceeds with no deviations. The Rs 32.29 crore pending from warrant conversions (when fully exercised) will provide additional capital for project deployment, though warrant holders have not yet paid the remaining 75%.