Please find enclosed herewith the Monitoring Agency Report for the Quarter ended March 31, 2025
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Moneyboxx Finance filed the Crisil Ratings monitoring report for the quarter ended March 31, 2025, covering use of funds from its August–September 2024 preferential issue of equity shares and convertible warrants. The original issue size of Rs 271.48 crore was cut to Rs 175.80 crore because the issue was undersubscribed at the time of allotment. Of the revised Rs 175.80 crore, the company has so far utilized Rs 89.02 crore for onward lending and Rs 2.06 crore for general corporate purposes, totaling Rs 91.08 crore deployed. The remaining Rs 84.72 crore has not been spent, and crucially, it has not yet been received either — it will be payable by warrant holders when they convert their warrants into equity within 18 months of allotment. Crisil reported no deviation from the stated objects, no major unfavorable events, and no delay in implementation.
The 35% cut in issue size from undersubscription means the NBFC raised significantly less growth capital than originally planned, which could slow its lending expansion. Shareholders should track warrant conversion over the next 12–18 months, as the remaining Rs 84.72 crore — and the company's full lending ramp-up — depends on whether warrant holders choose to convert.