Pursuant to the Regulation 32(6) of the Securities and Exchange Board of India (Listing Ob-ligations and Disclosure Requirements) Regulations, 2015 read with Regulation 173A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, enclosed herewith is the Monitoring Agency Report for the quarter ended June 30, 2025 issued by CARE Ratings Limited, Monitoring Agency for the utilisation of the proceeds raised through Qualified Institutions Placement.
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Awaiting price reaction for this filing.
CARE Ratings has submitted the first Monitoring Agency Report for Genesys International's Rs. 110 crore Qualified Institutional Placement (QIP) done between May 14-16, 2025. As of June 30, 2025, the company has utilised only Rs. 6.46 crore out of Rs. 110 crore raised. This includes Rs. 5.04 crore towards issue expenses and Rs. 1.42 crore towards tech platform development (software license). No funds have been deployed yet for the data centre setup (Rs. 17.71 cr), map content creation (Rs. 18.65 cr), sensor capacity building (Rs. 10.57 cr), IT infrastructure (Rs. 9.83 cr), or general corporate purposes (Rs. 20.49 cr). The remaining Rs. 103.54 crore is parked in escrow, monitoring, and fixed deposit accounts earning 4-6.70% interest. The Monitoring Agency noted no deviation from the stated objects and all utilisation is as per the offer document.
This is a routine compliance filing confirming that QIP funds are being deployed as promised, but utilisation in Q1 FY26 has been very slow — over 94% of proceeds remain unutilised. While this means more interest income for now, shareholders should watch for timely execution of the data centre and map content projects, which are core to the company's growth plans. No immediate stock price impact expected from this report.