Disclosure under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 -Monitoring Agency Report for the quarter ended December 31, 2025
CEINSYS · price
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CARE Ratings, the Monitoring Agency, has submitted its report on Ceinsys Tech's Preferential Issue of equity shares and convertible warrants worth Rs. 235.06 crore (originally planned at Rs. 243.40 crore but undersubscribed after one allottee worth Rs. 8.34 crore backed out). The company allotted 11,01,749 equity shares (88.09% subscribed) and 30,96,515 warrants (100% subscribed) at Rs. 559.90 each. Of the Rs. 235.06 crore, only Rs. 105.03 crore has been raised so far; the balance Rs. 130.03 crore (75% of the warrant money) is yet to be received within 18 months of the September 2024 allotment. No funds were utilised during Q3 FY26, and the entire unutilised amount of Rs. 105.02 crore is parked in SBI Fixed Deposits earning around 5.60–6.30% interest. There is no deviation from the stated objects (strategic overseas acquisitions, India delivery centre expansion, working capital), but CARE flagged that undersubscription may impact the viability of the originally planned acquisitions.
Shareholders should note the slow deployment of raised capital—zero utilisation in Q3 FY26 and a large Rs. 105 crore still sitting in bank FDs over a year after allotment—which raises questions about execution speed. The pending Rs. 130 crore from warrant holders adds uncertainty on whether the full overseas acquisition plan can be funded as originally intended.