Please find attached Monitoring Agency Report for the quarter ended 31.03.2026 as approved by the Audit committee and Board of Directors of the Company.
BHANDARI · price
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Bhandari Hosiery Exports Limited has submitted its Q4 FY26 Monitoring Agency Report (quarter ended March 31, 2026) for its Rights Issue conducted in March 2026. The issue was undersubscribed, with gross proceeds of Rs 2,378.41 lakh against the originally planned Rs 4,930.00 lakh. The company utilized Rs 671.66 lakh (29.5%) for working capital (raw material procurement) and Rs 6.95 lakh for issue expenses. The remaining Rs 1,699.80 lakh continues to lie in the monitoring account with Axis Bank. Due to funds being received only on March 27, 2026, the company could not deploy the full amount within the quarter. Two planned objects—reduction in long-term loans and General Corporate Purpose—were deferred because of undersubscription. The board has approved utilization of remaining proceeds by June 30, 2026.
The undersubscription of the rights issue and significant unutilized proceeds indicate weaker-than-expected investor demand. The delay in fund deployment may slightly impact near-term working capital benefits, though the company has committed to full utilization within the next quarter.