Monitoring Agency Report for the Quarter Ended 31st March 2026
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LGT Global Hospitality Limited (formerly LGT Business Connextions Limited) submitted its Q4 FY26 Monitoring Agency Report for the Rs. 21.92 crore IPO proceeds (raised August 2025). Of the total proceeds, Rs. 12.86 crore (59%) has been utilized while Rs. 9.06 crore remains unutilized as of March 31, 2026. Capital expenditure utilization stands at only Rs. 2.45 crore out of Rs. 10.44 crore proposed, with the largest unutilized portion (Rs. 7.99 crore). Working capital (Rs. 6.73 crore of Rs. 7.70 crore) and general corporate purpose (Rs. 3.68 crore of Rs. 3.78 crore) are largely deployed. The unutilized funds are parked in IndusInd Bank FD (Rs. 9.24 crore) and current account (Rs. 0.06 crore). The company noted a discrepancy between the offer document timeline (FY2026) and the actual utilization period (12 months from receipt), with no formal board resolution for this change.
The significant delay in capital expenditure deployment (only 23% utilized) and absence of a board resolution for the extended timeline raise governance concerns. Shareholders should note that Rs. 9.06 crore (41% of IPO proceeds) remains idle after 7 months from the issue, and the company has not formally documented its revised utilization timeline.