Submission of Monitoring Agency Report issued by ICRA Limited for the quarter ended March 31, 2025.
HARIOMPIPE · price
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Awaiting price reaction for this filing.
Hariom Pipe Industries filed its quarterly Monitoring Agency Report prepared by ICRA Limited for Q4 FY2025, covering utilization of proceeds from its March–April 2023 Preferential Issue of Rs. 190.20 Crore (equity shares and convertible warrants). After forfeitures on 6,715 unexercised warrants (Rs. 0.06 Crore), the net proceeds monitored stand at Rs. 189.50 Crore, entirely earmarked for working capital needs. ICRA confirmed there is no deviation from the stated objects of the issue. As of March 31, 2025, the company has utilized Rs. 189.28 Crore, leaving only Rs. 0.22 Crore unutilized. There are no delays in implementation and no major deviations from earlier monitoring reports.
This is a routine compliance filing with a clean report — no deviations and nearly 100% of the raised funds deployed as intended. Investors can take comfort that capital raised through the preferential issue was used for its disclosed purpose, though the filing is unlikely to move the stock price meaningfully.