Monitoring Agency Report under Regulation 32(6) of SEBI (LODR) Regulation, 2015 issued by Brickwork Ratings Limited for the quarter ended March 31, 2026.
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Candour Techtex Limited has filed its first Monitoring Agency Report for the quarter ended March 31, 2026, issued by Brickwork Ratings. The company raised Rs. 165.34 crore through a preferential issue of equity shares and convertible warrants (revised down from the proposed Rs. 198.23 crore due to undersubscription). The actual amount received was Rs. 94.27 crore, comprising Rs. 65.68 crore from equity shares (undersubscribed) and Rs. 28.59 crore from warrant subscription (25% of warrant proceeds). As of March 31, 2026, the company has deployed Rs. 45.28 crore of the proceeds, with Rs. 120.06 crore remaining unutilized. The funds have been deployed towards land and building acquisition (Rs. 20 crore), working capital (Rs. 11.73 crore), and issue-related expenses (Rs. 11.88 crore), with the balance parked in Kotak Mahindra Bank term deposits. No deviations from the stated objects of the issue were reported.
The filing indicates that the company has received partial subscription to its preferential issue, with significant funds still pending deployment. No deviations or material concerns were flagged by the monitoring agency, which is a positive sign for shareholders regarding fund utilization compliance.