Asian Energy Services Limited informed the Exchange about Monitoring Agency Report for the quarter ended March 31, 2025
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Asian Energy Services Limited has submitted the Monitoring Agency Report from India Ratings & Research for the quarter ending March 31, 2025, covering the utilization of proceeds from its preferential issue of convertible warrants. The total issue size was INR 160.80 Crores, but only 47 lakh warrants were subscribed (against 48 lakh offered), with the company receiving INR 39.36 Crores as the 25% upfront subscription amount. Of the INR 157.45 Crores raised, INR 6.28 Crores was utilized during the quarter, leaving INR 33.08 Crores parked in fixed deposits with Union Bank (INR 25 Cr) and money market mutual funds (HDFC and Aditya Birla Sun Life). The Monitoring Agency confirmed no deviation from the stated objects, and the report is pending review by the Audit Committee.
This is a routine compliance filing with no negative findings—no deviation from stated use of proceeds was observed. Shareholders get clarity that funds raised via the preferential warrant issue are being deployed as planned, primarily for oilfield equipment purchases, working capital, and strategic investments, with the balance safely parked in liquid instruments.