Please find attached Monitoring Agency Report for the quarter ended March 31, 2026
IMAGICAA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research, the monitoring agency, has submitted its Q4 FY2026 report on the utilization of INR 215.75 Crores raised through a preferential issue (March 2025). The company has deployed INR 215.74 Crores of the raised funds with virtually no unutilized balance remaining. Of the planned INR 345.19 Crores issue size, full subscription was received for equity shares (INR 172.60 Crores), but only 25% upfront payment was received for convertible warrants (INR 43.15 Crores of INR 172.60 Crores), with the balance to be received upon conversion within 18 months. The monitoring agency confirmed no deviation from the stated objects of the issue.
Shareholders can take comfort that the INR 215.75 Crores raised has been substantially deployed as per the disclosed objects. The clean monitoring report with no deviations indicates proper governance. However, warrant conversion risks remain as only partial subscription money has been received so far.