Monitoring Agency Report for the Quarter ended on 31.03.2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Brickwork Ratings has submitted the second monitoring agency report for the quarter ended March 31, 2026, regarding utilization of Rs. 250.80 crore raised through the IPO (December 2025). The report shows no deviations from the stated objects of the issue. Of the total proceeds, Rs. 101.37 crore has been utilized so far, with Rs. 149.43 crore remaining unutilized. Key deployments include Rs. 74.82 crore towards inorganic growth and general corporate purposes, Rs. 4.95 crore for new hospital construction in Vadodara, and Rs. 24.63 crore for issue expenses. Three acquisitions (Parekhs Hospital, Ashwini Medical Centre, and Harmony Medicare) are marked as completed with zero utilization shown, which may indicate payments were made from other sources. The unutilized funds are parked in HDFC Bank fixed deposits worth Rs. 40.06 crore.
Positive signal for shareholders - the monitoring agency confirms all IPO funds are being utilized as per the offer document with no material deviations or unfavorable events affecting viability.