Pursuant to the Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 173A ofthe Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)Regulations, 2018, enclosed herewith is the Monitoring Agency Report for the third quarterended December 31, 2025 issued by CARE Ratings Limited, Monitoring Agency for the utilisation of the proceeds raised through Qualified Institutions Placement.
GENESYS · price
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Awaiting price reaction for this filing.
Genesys International filed the quarterly Monitoring Agency Report from CARE Ratings for the Rs. 110 crore QIP it raised in May 2025. As of December 31, 2025, only Rs. 28.34 crore has been deployed out of the total Rs. 110 crore raised, with Rs. 81.66 crore still unutilised and parked in HDFC Bank fixed deposits earning 4.75–6.70%. During Q3 FY26, the company used just Rs. 0.95 crore, entirely for general corporate purposes (provident fund and statutory payments). Most of the planned capex — data centre, map content, sensor capacity and IT infrastructure — has seen zero utilisation this quarter, with only Rs. 1.42 crore spent so far on the tech platform. The monitoring agency flagged comingling of funds since QIP money was transferred from the MA account into a cash credit account before being spent. No deviation from the stated objects was reported.
Very slow deployment of QIP proceeds and comingling of funds are mild red flags, while the noted ~47% stock price decline over the past twelve months adds to investor concern. Shareholders should watch whether the company accelerates spending on the data centre, tech platform and map content projects in coming quarters to justify the QIP.