Monitoring Agency Report for the quarter ended June 30, 2025 for the Preferential Allotment made on July 19, 2024
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Fineotex Chemical has submitted the quarterly Monitoring Agency Report from ICRA Limited covering the use of funds raised through its July 2024 preferential issue. The total issue size was Rs. 218.11 crore, comprising 28.15 lakh equity shares and an equal number of convertible warrants at Rs. 387.40 each. Since only 25% of the warrant proceeds have been received so far, ICRA is currently monitoring Rs. 136.319 crore actually credited to the preferential issue account as of June 30, 2025. The funds were earmarked for working capital (Rs. 25 crore), business expansion (Rs. 138.58 crore), and general corporate purposes (Rs. 54.53 crore). ICRA confirmed there is no deviation from the stated objects, no material change in means of finance, and only Rs. 0.154 crore of the GCP portion has been utilised so far towards depository fees and maintenance expenses.
This is a routine compliance filing confirming the company is using its preferential issue funds as promised to shareholders. No negative signals on misuse or diversion, which is reassuring, though actual capex deployment (expansion plans worth Rs. 138.58 crore) is yet to begin materially, keeping the growth story still ahead.