Monitoring Agency Report issued by CARE Ratings Limited
MEDIASSIST · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Medi Assist Healthcare Services Limited has filed its quarterly monitoring report for funds raised through a preferential issue completed on October 10, 2025. The company raised Rs. 198 crore (INR 1,98,00,35,000) through this issue. CARE Ratings Limited, appointed as the monitoring agency, has confirmed there is no deviation in the utilization of funds from the stated objects. Out of the total proceeds, Rs. 148.40 crore has been utilized for investment in the company's wholly-owned subsidiary (Medi Assist Insurance TPA Pvt. Limited) for debt prepayment/repayment purposes. The remaining Rs. 49.60 crore remains unutilized and is currently invested in liquid mutual funds (Aditya Birla Sun Life, Axis, ICICI Prudential, and Nippon India Liquid Funds) and subsidiary's current account. The general corporate purposes allocation of Rs. 48 crore remains completely unutilized. The audit committee reviewed and approved the statement with no comments.
For shareholders, this filing is a positive compliance update confirming that the company is utilizing preferential issue proceeds as disclosed and approved by shareholders, with no fund diversion or material deviation detected by the independent monitoring agency.