MANAKCOAT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited, the monitoring agency, submitted its quarterly report on the Rs. 134.55 crore preferential issue of convertible warrants (allotted January 30, 2025). The company has received Rs. 120.90 crore so far, with Rs. 13.65 crore still pending from warrant holders. Funds have been deployed as follows: Rs. 34.08 crore for loan repayment (out of Rs. 35 crore), Rs. 82.27 crore for working capital (out of Rs. 95 crore), Rs. 0.25 crore for issue expenses, and Rs. 4.30 crore for general corporate purposes. The monitoring agency confirmed nil deviation from objects and no material changes to the means of finance. No delays were reported in implementation.
Positive signal for shareholders as the monitoring agency has verified that all fund utilization is in line with the disclosed objects of the preferential issue, with no deviations detected. The pending Rs. 13.65 crore from warrant conversion is expected to be received.