MARATHON · price
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Awaiting price reaction for this filing.
Marathon Nextgen Realty has submitted a revised Monitoring Agency Report for its Qualified Institutional Placement (QIP) to correct an error on page 2 where the issue period was wrongly mentioned as September 2025 instead of the actual period of 23rd June 2025 to 30th June 2025. The QIP involved 1.62 crore equity shares of face value ₹5 each issued at ₹555.13 per share, raising approximately ₹899.99 crores. The monitoring agency (India Ratings & Research) confirmed no deviation from the stated objects, but noted nil utilization during the quarter, with the entire amount lying idle in an HDFC Bank Escrow Account. The proceeds are earmarked for subsidiary investments (₹160 cr), debt repayment (₹340 cr), land acquisition (₹300 cr), general corporate purposes (₹89.65 cr), and issue expenses (₹10.35 cr).
This is a procedural correction rather than a material event—the underlying QIP details remain unchanged. Shareholders should note that nearly ₹900 crores raised in late June 2025 remained completely unutilized by end of June 2025, suggesting deployment is in early stages.