Utilization of Proceeds of Preferential Issue of Shares for the period ended March 31, 2026 is attached
ASIANHOTNR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Asian Hotels (North) Ltd raised Rs. 764.94 crore through a preferential issue of 2,31,80,000 equity shares on February 3, 2026. The proceeds were earmarked for repayment of the company's debt including interest and penalty. According to the statutory auditor's certificate from G. K. Choksi & Co., Rs. 764.93 crore (approximately 100%) has been utilized, with only Rs. 52,713 remaining unutilized in the bank accounts. There is no deviation or variation in the use of funds from the stated objects approved in the EGM. The monitoring agency is Infomerics Valuation and Rating Limited.
The company has nearly fully deployed the Rs. 764.94 crore raised via preferential issue towards debt repayment, indicating significant deleveraging. With virtually no deviation from the stated object, this is a clean utilization report with positive signal for financial health.