GANECOS · price
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Awaiting price reaction for this filing.
Ganesha Ecosphere has submitted the Monitoring Agency Report from ICRA Limited for the quarter ended June 30, 2025, covering the use of funds raised through a preferential issue of 14,49,000 fully convertible warrants at Rs. 1,035 each, totaling Rs. 149.97 crore. So far, only Rs. 46.04 crore (about 31% of the issue) has actually been received by the company, and all of this amount has been fully utilized. Of this, Rs. 37.50 crore has already been deployed for repaying borrowings (fully completed), Rs. 5.93 crore spent on plant and machinery for recycled PET resin/granules and filament yarn, and Rs. 2.61 crore used for working capital under general corporate purposes. The Monitoring Agency confirmed there is no deviation from the stated objects, no major changes from earlier reports, and the pending capex of Rs. 76.57 crore remains on schedule for completion by March 31, 2026.
This is a routine compliance filing with no negative flags – the monitoring agency found funds are being used as promised and capex is on track. Shareholders can take comfort that Rs. 37.50 crore of debt has already been repaid and the larger plant and machinery investment is progressing, though close to Rs. 104 crore of the originally planned issue size is yet to be received from warrant holders.