MERCURYEV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mercury EV-Tech filed its Monitoring Agency Report (by Crisil Ratings) for the quarter ended December 31, 2025, covering the use of proceeds from its October-November 2024 Preferential Issue of Equity Shares and Convertible Warrants. The total issue size stood at Rs 447.94 crore (revised down from Rs 480.31 crore due to undersubscription at allotment), of which Rs 192.31 crore has been utilized so far and Rs 255.63 crore remains unutilized. Notably, only Rs 0.82 crore of unutilized money sits in the company's bank account, while a much larger Rs 254.81 crore is yet to be received from warrant holders. No funds were deployed during the reporting quarter, and there are no deviations from the stated objects.
Negative sentiment likely — a large chunk of the raise is contingent on warrant holders converting at almost double today's market price, which looks doubtful and signals possible funding shortfall or dilution risk. Investors should track warrant conversion outcomes in coming quarters.