Monitoring Agency Report for the quarter ended December 31, 2025
EMKAY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Emkay Global Financial Services has filed its first Monitoring Agency Report (by CARE Ratings) for a Rs. 227.52 crore preferential issue of convertible warrants conducted between October 24-27, 2025. Out of the total issue size, Rs. 61.88 crore was called and received by December 31, 2025 — comprising a 25% upfront deposit on 95 lakh warrants (Rs. 56.88 crore) and the balance 75% on 2.78 lakh warrants (Rs. 4.99 crore). The entire Rs. 61.88 crore has been fully utilized towards working capital requirements, with Rs. 25 crore parked in fixed deposits for bank guarantees, Rs. 4.99 crore in FDs as exchange margin, and Rs. 31.88 crore as cash collateral with clearing corporations and in the NSE F&O settlement account. The monitoring agency confirmed no deviation from the stated objects of the issue. The original plan was to use Rs. 202.52 crore for working capital and Rs. 25 crore for general corporate purposes, with deployment targeted by June 30, 2027.
Positive from a compliance standpoint — the first monitoring report shows proceeds being used exactly as disclosed with zero deviation or idle funds. For shareholders, this signals disciplined fund deployment for a stockbroking firm where working capital, exchange margins, and bank guarantees are core operational needs. The remaining ~Rs. 165 crore from the unexercised warrants is still pending, so the capital raise story is only partly played out.