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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Midwest Gold Limited has filed the Monitoring Agency Report from Infomerics Valuation and Rating Limited for the quarter ended June 30, 2025, covering utilization of Rs. 118.47 crore raised through a Preferential Issue. Of this, Rs. 103.60 crore has been utilized so far while Rs. 14.87 crore remains unutilized and is parked in fixed deposits (Rs. 10 crore earning 5% interest) and share application money (Rs. 4.87 crore). The biggest use was the Rs. 39.57 crore acquisition of 97.40% in Midwest Energy Private Limited (MEPL), which is fully completed and positions the company in the clean/renewable energy and Battery Management Systems space. Other allocations include Rs. 19.60 crore used for debt repayment, Rs. 15.12 crore for future expansion, Rs. 12.00 crore for working capital, and Rs. 17.31 crore for general corporate purposes. The Monitoring Agency confirmed no deviation from stated objects, with the only cost revision being a reduction in debt repayment allocation from Rs. 29.75 crore to Rs. 20.03 crore due to the issue being undersubscribed.
Positive for shareholders: the report confirms proceeds are being used as promised with no deviations, the MEPL acquisition is complete, and a fast-track merger between Midwest Gold and MEPL is planned — marking a strategic pivot from granite trading into renewable energy and battery technology. The Rs. 14.87 crore still unutilized is safely deployed in interest-bearing deposits, but investors should watch the pace of deployment for working capital and expansion in coming quarters.