Pursuant to regulation 32(6) of the SEBI (LODR) Regulation, 2015, read with Regulation 162A of SEBI (ICDR) Regulation, 2018, we have enclosed herewith Monitoring Agency Report for the quarter ....
FINKURVE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Finkurve Financial Services, an NBFC, filed the Crisil Ratings Monitoring Agency Report for the quarter ended June 30, 2025, covering proceeds from a preferential issue of equity shares and warrants. The original issue size of Rs 157.11 crores was revised down to Rs 141.50 crores due to undersubscription (some proposed allottees did not participate). Of the revised proceeds, Rs 111.50 crores was deployed during the quarter: Rs 55.50 crores towards disbursement of Gold Loans and Personal Loans, Rs 43 crores towards repaying loans from related parties (Augmont Enterprises and Aranath Real Estate), and Rs 13 crores towards repaying loans from non-related parties (Prem Cables and Ace India Bullion). The remaining Rs 30 crores (75% balance on warrants) is yet to be received from warrant holders. Crisil confirmed no deviation from stated objects and no major deviation versus earlier reports. The report was reviewed by the Audit Committee and noted by the Board on August 13, 2025.
No red flags on usage of funds—proceeds are going into the stated business of lending and debt repayment as disclosed. However, Rs 43 crores (roughly 38% of deployed funds) being used to repay loans from related parties may be a point of scrutiny for minority shareholders despite being approved by Board and shareholder resolutions.