Monitoring Agency Report for the quarter ended March 31, 2025
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Exhicon Events Media Solutions has filed a Monitoring Agency Report from Infomerics Valuation and Rating for the quarter ended March 31, 2025. The company raised funds via a preferential issue of 34,10,000 fully convertible warrants at Rs. 315 per warrant, aggregating Rs. 107.42 crore, though out of 44,74,000 warrants offered, only 34,10,000 were subscribed. As of March 31, 2025, it has received Rs. 26.85 crore as 25% share application money and utilized Rs. 14.50 crore during the quarter — Rs. 12 crore towards growth, investments and operations, and Rs. 2.50 crore towards general corporate purposes (statutory/tax payments). The unutilized Rs. 12.35 crore is parked in an Axis Bank fixed deposit (Rs. 5 crore) and current accounts at Standard Chartered (Rs. 4.14 crore) and ICICI (Rs. 3.21 crore). The Monitoring Agency confirmed no deviation from objects and no delay in implementation, with all figures verified by chartered accountants Piyush Kothari & Associates.
This is a routine regulatory disclosure confirming the company is using the preferential issue proceeds as planned, with no fund diversion or delays. The notable point for shareholders is that the issue was undersubscribed, which led to a downward revision of planned object costs from Rs. 140.93 crore to Rs. 107.42 crore. No material negative implications for investors as utilization is on track.