Monitoring Agency Report for the quarter ended 30th September, 2025 in relation to the Right issue of Equity Shares of the Company.
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Awaiting price reaction for this filing.
Kalind Ltd has filed the Monitoring Agency Report from Infomerics Valuation and Rating Limited for the quarter ended September 30, 2025, confirming utilization of funds raised through its Rights Issue. The company raised Rs. 60.48 crore gross (Rs. 59.67 crore net of issue expenses of Rs. 0.81 crore) by issuing 4.80 crore equity shares at Rs. 12.60 per share (including a Rs. 2.60 premium) during September 3–11, 2025. The entire net proceeds of Rs. 59.67 crore have been fully utilized: Rs. 49.17 crore for acquiring 100% shareholding in Prasad Earth Movers Private Limited (17,88,138 shares at Rs. 275 per share) and Rs. 10.50 crore for acquiring the business of Kalind Earth Movers via slump sale. Both acquisitions were completed within FY 2025-26, with no deviation from stated objects and no delays. Only Rs. 0.17 crore remains unutilized, earmarked for issue-related expenses, parked in an Axis Bank current account. A peer-reviewed CA certificate from JMMK & Co. confirms no diversion of funds.
For shareholders, this is a positive compliance update — the Rights Issue proceeds have been deployed exactly as promised in the offer document, with both acquisitions completed on time. The report removes any uncertainty around fund usage, though investors should note the related-party nature of the Kalind Earth Movers acquisition (the seller is a promoter of the company). No material negative signals for the stock from this filing.