Monitoring Agency Report for the quarter ended March 31, 2025
AGARWALEYE · price
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Awaiting price reaction for this filing.
Dr. Agarwal's Health Care has filed the ICRA Limited Monitoring Agency Report for Q4 FY2025 on the use of IPO proceeds. The company raised Rs. 300 Crore as fresh issue (total IPO size Rs. 3,027.26 Crore including offer for sale) between January 29-31, 2025. During the quarter, Rs. 142.4 Crore was utilized — Rs. 128.1 Crore towards repayment/prepayment of borrowings, Rs. 11.07 Crore for issue-related expenses, and Rs. 3.23 Crore for general corporate purposes (medical and office equipment). The remaining Rs. 157.6 Crore of unutilized funds has been parked in fixed deposits with HDFC Bank, ICICI Bank, and Axis Bank earning 7% to 7.30% interest, alongside balances in monitoring and escrow accounts. ICRA confirmed no deviation from the stated objects of the issue and that implementation is on schedule, targeted for completion by CY2025-CY2027.
Routine SEBI-mandated compliance filing with no red flags. Funds are being deployed as promised and unutilized money is earning safe interest, reflecting disciplined capital management — neutral to mildly positive for shareholders.