Monitoring Agency Report for the quarter ended June 30, 2025
HIMATSEIDE · price
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Himatsingka Seide has submitted the Monitoring Agency Report from CARE Ratings for the Rs. 400 crore QIP it raised in October 2024. Of the total, Rs. 300 crore was earmarked for repaying borrowings, Rs. 77.60 crore for general corporate purposes (GCP), and Rs. 22.40 crore for issue expenses. As of June 30, 2025, Rs. 367.40 crore has been utilized, leaving Rs. 32.60 crore unutilized and parked in fixed deposits with HDFC Bank at 4.75% interest. The company used Rs. 5.76 crore during Q1 FY26 towards term loan repayment. The original deadline for completing the debt repayment was end of FY25, but a board resolution dated March 29, 2025 extended this to end of Q2 FY26. CARE Ratings noted no deviation from the stated objects.
This is a routine compliance disclosure and largely neutral for shareholders. The extension to Q2 FY26 for completing debt repayment is minor and pre-approved, while the idle funds are earning interest in bank deposits. No red flags on misuse or deviation were flagged.