Submission of Monitoring Agency Report for the Quarter ended September 30, 2025 on the utilization of proceed of Rights Issue.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Covance Softsol has submitted the Monitoring Agency Report from Acuité Ratings and Research for the quarter ended September 30, 2025, covering the use of money raised through its Rights Issue held between September 8-19, 2025. The Rights Issue raised gross proceeds of INR 7.38 crore, with net proceeds of INR 6.98 crore after issue expenses of INR 0.40 crore. The company had earmarked INR 5.50 crore for repayment of loans and INR 1.48 crore for general corporate purposes, and both amounts have been fully utilized by quarter-end. The Monitoring Agency confirmed that fund usage is in line with the offer document, with no deviation, no change in means of finance, and no unfavorable events affecting the objects.
Fully compliant utilization of Rights Issue proceeds with no deviation is a routine but positive disclosure, signalling disciplined use of raised funds (mainly for loan repayment), which could support the company's balance sheet and reduce interest costs for shareholders.