Monitoring Agency Report for the quarter ended June 30, 2025, for Rights Issue.
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Camlin Fine Sciences has filed the Monitoring Agency Report from India Ratings & Research for its Rights Issue, conducted in January 2025 at ₹110 per share for 2.04 crore equity shares, with a total issue size of ₹224.69 crores. The primary purpose is prepayment or repayment of borrowings, of which ₹98.24 crores has been utilised so far against a revised allocation of ₹169.05 crores. Another ₹10.04 crores has been deployed for general corporate purposes, and ₹0.69 crores for issue expenses. The monitoring agency confirmed no deviation from the objects stated in the Letter of Offer. About ₹176.60 crores remains unutilised and is parked in fixed deposits with the State Bank of India, earning interest in the 3.05%–6.75% range. The report notes a delay of 3 months, with the issue expected to be fully utilised in the current fiscal year.
The Rights Issue proceeds are being deployed as planned, with debt reduction as the main use — a positive signal for the company's balance sheet. There is no deviation flagged by the monitoring agency, though a significant portion of funds is still pending deployment, which will keep a close watch on how and when the remaining capital is put to productive use.