Submission of Monitoring Agency report for the quarter ended 31st March, 2025
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Inox Green Energy Services has submitted the quarterly Monitoring Agency Report prepared by CARE Ratings for its Rs. 1,050 crore Preferential Issue (equity shares and convertible warrants), issued between July and August 2024. The company has so far received Rs. 592.50 crore, with the remaining Rs. 457.50 crore expected by February 2026 against share warrants. Of the funds received, Rs. 421.17 crore has been utilized: Rs. 109.64 crore for debt repayment, Rs. 275.95 crore for investments in subsidiaries, and Rs. 35.58 crore for general corporate purposes (salary, vendor payments, interest, GST, TDS). The unutilized Rs. 171.33 crore is parked in money market funds (Axis, Nippon, ICICI Prudential, Kotak) earning returns of 8.16%–8.42%. The Monitoring Agency noted no deviation from the stated objects, and all three planned purposes are progressing within the 18-month implementation timeline.
This is a routine compliance filing with no negative flags. It reassures shareholders that funds raised are being deployed in line with stated objectives, debt repayment is nearly complete, and idle funds are earning healthy returns. Investors should note that full deployment depends on receipt of the remaining Rs. 457.50 crore from warrant conversions by February 2026.