Monitoring Agency Report for the quarter ended March 31, 2026
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CARE Ratings Limited, the monitoring agency, has submitted its Q4 FY26 report on the utilization of Rs. 330 crore raised through a preferential issue. Of the total proceeds, Rs. 320 crore was earmarked for acquisition, expansion and capital expenditure of the company and its subsidiaries, while Rs. 10 crore was for general corporate purposes. As of March 31, 2026, Rs. 74.62 crore has been deployed, including Rs. 74.62 crore paid as advance revenue share to Vidya Asagar Kaur Shahuliyal Evi for a Medical Services Agreement at Vidya Asagar Kaur Memorial Hospital. Rs. 8.27 crore was used for general corporate purposes. The remaining unutilized amount continues to be parked in fixed deposits. The audit committee reviewed the report on May 8, 2026.
The report confirms that the preferential issue proceeds are being utilized as per the offer document with no material deviations. The slow deployment pace (only Rs. 74.62 crore out of Rs. 320 crore for the main object deployed) suggests the company is proceeding cautiously with its expansion plans.