Monitoring Agency Report for the Quarter ended March 31, 2026.
GMRP&UI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited, as Monitoring Agency, submitted its report for the Rs. 1,200 crore preferential issue (equity shares and convertible warrants). As of March 31, 2026, the company received Rs. 900 crore (75% of the issue), and all funds have been fully deployed with no unutilized amount. The utilization includes: Rs. 334.64 crore for repayment of the company's own outstanding borrowings to GMR group lenders, Rs. 442.17 crore transferred to subsidiaries (GMR Smart Electricity Distribution and GMR Generation Assets) for their debt repayments, Rs. 100 crore infused into subsidiaries, and Rs. 23.19 crore deployed for general corporate purposes including business support, vendor payments, rent, and salaries. No deviations from the stated objects were observed, and warrants were issued at Rs. 120.88 per warrant.
The full utilization of Rs. 900 crore received so far indicates orderly deployment of preferential issue proceeds as per the offer document, with debt reduction benefits flowing to both the parent and key subsidiaries. The remaining Rs. 300 crore (upon receipt) will continue to be deployed within the 24-month timeline.