Monitoring Agency Report for the quarter ended on March 31, 2026
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Baid Finserv Limited, an NBFC, has received a monitoring agency report from CARE Ratings Limited confirming full utilization of its Rs. 30.02 crore Rights Issue proceeds. The issue was open from November 25 to December 3, 2025. All funds have been deployed as intended: Rs. 18 crore for capital base augmentation and onward lending, Rs. 10 crore for debt repayment (paid to Capital Small Finance Bank and Shriram Finance Limited), Rs. 1.67 crore for general corporate purposes (salaries, incentives, branch rent), and Rs. 0.35 crore for issue expenses. The Rs. 0.07 crore saving on issue expenses was redirected to general corporate purposes as permitted. No deviations from the offer document were observed, and there were no delays in implementation.
This is a positive compliance update confirming the rights issue proceeds were deployed as disclosed, with all objects achieved by fiscal 2026. The debt repayment and capital augmentation strengthen the company's balance sheet, which is constructive for shareholders of this NBFC.