Report of the Monitoring Agency for the quarter ended on March 31, 2025 in relation topreferential issue
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Genus Power Infrastructures has filed a monitoring agency report on its preferential issue of 4.59 crore share warrants at Rs. 112.88 each, totaling Rs. 519.01 crores raised between August-September 2023. As of March 31, 2025, the company has utilized Rs. 333.90 crores, leaving Rs. 185.10 crores unutilized, which is parked in fixed deposits with AU Small Bank and Yes Bank earning 7.30%-8.20% interest. A related party, Gemstar Infra Pte Ltd, refunded Rs. 38.82 crores due to delays in AMISP smart meter projects, causing some deployment setbacks. The company expects to complete utilization of all funds by June 30, 2025. No deviation from the stated objects of the issue has been observed by the monitoring agency, India Ratings.
This is a routine procedural disclosure confirming funds are being used as originally planned. Minor concerns include execution delays in AMISP projects and related-party investment refund, but the healthy interest earnings on unutilized funds (about Rs. 187.60 crores) provide some income offset. No material negative impact on shareholders expected.