Brickwork finds no deviation in warrant proceeds use for September quarter
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Brickwork Ratings' fifth monitoring report for the quarter ended September 30, 2026 found no deviation from the stated use of preferential warrant proceeds. Of the Rs. 199.99 crore issue, Rs. 108.29 crore had been received and fully deployed: Rs. 29.29 crore repaid company debt, Rs. 34 crore repaid subsidiary debt and Rs. 45 crore met general corporate purposes. The remaining Rs. 91.70 crore had not yet been received. No delay was reported.
Fund use was confirmed as compliant. Most proceeds were still pending receipt, and warrant conversion into shares could dilute existing holders.