Monitoring Agency Report for the quarter ended March 31, 2025
AXISCADES · price
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Awaiting price reaction for this filing.
AXISCADES Technologies filed the CRISIL Monitoring Agency Report for its QIP issue (January 2024), confirming utilization of net proceeds of Rs 203.47 crore. Of this, Rs 158.45 crore was used to repay/prepay borrowings (fully completed in Q2 FY25), and Rs 25.02 crore was deployed for general corporate purposes, with Rs 7.38 crore utilized during Q4 FY25. The remaining Rs 20 crore of unutilized proceeds is parked in two fixed deposits with RBL Bank, earning 7.80% interest and maturing on September 24, 2025. There is no deviation from the objects stated in the offer document, no material delay, and no change in the means of finance.
The report confirms orderly and compliant deployment of QIP funds with no deviations, which is a neutral-to-slightly-positive signal for shareholders. The Rs 20 crore still parked in FDs continues to earn ~7.8% interest, and debt repayment has already strengthened the balance sheet, though no fresh operational or strategic update emerges from this filing.