ICRA monitoring report on Rights Issue proceeds for Q1 FY2027
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA filed Q1 FY2027 monitoring report for Asian Granito India Limited's 2022 Rights Issue of about INR 422.17 crore. Most proceeds utilized; INR 5 crore newly deployed for a stock point via subsidiary. Objects were revised with shareholder approval. No material deviation. However, INR 73.80 crore for the Ahmedabad Display Centre remains unused after multiple contract terminations; implementation is yet to start. ICRA will keep monitoring. INR 86.35 crore was used as loans to subsidiary Crystal Ceramics for term loan repayment.
No major deviation in Rights Issue usage, but Ahmedabad Display Centre stalled; INR 86.35 crore for subsidiary debt repayment may raise queries.