Monitoring Agency Report for the quarter ended March 31, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings Limited, the monitoring agency, has submitted its report confirming that Kesar India Limited has utilized Rs 149.43 crore out of Rs 273.72 crore received from the Preferential Issue. The issue, completed in September 2025, comprised fully convertible warrants and equity shares. Proceeds are being deployed as disclosed: Rs 88.30 crore used for land acquisition and project development, Rs 50.13 crore for general corporate purposes (including loan repayment, consultancy fees, and listing expenses), and Rs 11 crore adjusted against promoter loans. The company has parked Rs 20.32 crore in fixed deposits with Central Bank of India. No deviations from the stated objects were observed. Warrants were issued at Rs 350 per share while the current market price stands at Rs 1,246 per share.
The report shows proper utilization of preferential issue proceeds with no deviations or implementation delays. The significant appreciation in share price (Rs 350 issue price vs Rs 1,246 current) indicates strong value for warrant holders. Shareholders can note that Rs 103.78 crore from warrant conversions remains pending over 18 months.