Monitoring Agency Report for the Quarter ended December 31, 2025
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LGT Business Connextions Limited, a Chennai-based travel and tourism aggregator, has filed its Monitoring Agency Report from Infomerics Valuation and Rating Limited for the quarter ended December 31, 2025. The company raised Rs. 21.92 crore as net proceeds from its public issue (August 19–21, 2025) of 26,25,600 equity shares at Rs. 107 each, with a total issue size of Rs. 28.09 crore. Of the net proceeds, Rs. 10.50 crore (about 48%) has been utilised so far — Rs. 1.68 crore towards capital expenditure (including a Chennai corporate office purchase, Travel Cloud Suite/CRM implementation, and a customer care centre), Rs. 5.59 crore towards working capital, and Rs. 3.23 crore towards general corporate purposes. The remaining Rs. 11.42 crore is parked in an IndusInd Bank fixed deposit (Rs. 9.06 crore) and a Bank of India current account (Rs. 2.42 crore). The agency confirmed no deviation from objects, no delays in implementation, and that utilisation is in line with the offer document.
This is a routine compliance filing confirming IPO proceeds are being used as promised, with no deviations or delays. Shareholders can take comfort from the clean report, though only about 48% of funds have been deployed so far, with the bulk of capital expenditure (Rs. 8.76 crore of Rs. 10.43 crore) yet to be utilised within FY25-26.