Report of the Monitoring Agency under Regulation 41(4) of the Securities and Exchange Board of India ( Issue of Capital and Disclosure Requirements) Regulation 2018 for the quarter ended ....
ARIHANT · price
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Awaiting price reaction for this filing.
Arihant Foundations & Housing has filed the Monitoring Agency Report (by ICRA Limited) for the quarter ended March 31, 2025, covering utilization of proceeds from its November 2024 preferential issue of Rs. 108.60 crore (13.65 lakh equity shares + 8.97 lakh warrants at Rs. 480 each). Only Rs. 76.31 crore has been received so far, since just 25% of the warrant money has come in. Out of this, the company has used Rs. 36.81 crore as planned — Rs. 11.73 crore on land acquisition/real estate projects, Rs. 10.95 crore on subsidiary investments, Rs. 10.22 crore on loan repayments (fully done), and smaller amounts on working capital and general corporate purposes. ICRA confirmed there is no deviation from the stated objects, though statutory approvals (including environmental clearance for one subsidiary project) are still being obtained. The remaining Rs. 39.50 crore of unutilized funds is parked in ICICI Bank fixed deposits earning 3% interest.
This is a routine compliance filing showing funds raised from the preferential issue are being used as promised, with no misuse or deviation. No immediate positive or negative trigger for the stock — but shareholders get reassurance that the Rs. 108 crore raise is being steadily deployed into real estate projects, land, and subsidiary funding.