Rs 7.98 crore placement funds remain unused as Baddi expansion is delayed
MOREPENLAB · price
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On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 2.6 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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As of September 30, 2026, Rs 7.98 crore remained unspent from Morepen's Rs 200 crore placement. Of Rs 189.08 crore available after issue costs, Rs 181.10 crore was used, including Rs 1.12 crore spent on Baddi plant expansion. Rs 66.29 crore of working capital was used earlier. Spending deadlines were extended twice, with the balance due by March 31, 2027. CARE Ratings found no change in their use but flagged possible cost overruns.
Most funds are used for stated purposes, but repeated delays and possible cost overruns may weigh on shareholder sentiment and the stock.