NACL Industries Limited has informed the Exchanges about Monitoring Agency Report for the period ended March 31, 2026
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NACL Industries Limited has filed its quarterly Monitoring Agency Report for the Rights Issue completed on December 31, 2025. The company raised Rs 24,928.92 lakh (approximately Rs 249 crore) through a Rights Issue. CRISIL Ratings Limited, the monitoring agency, has confirmed NIL deviation or variation in the utilization of proceeds from the stated objects during the quarter ended March 31, 2026. Of the total proceeds, Rs 21,848.95 lakh has been utilized - fully deploying funds for debt repayment (Rs 10,400 lakh), investment in subsidiary NACL Spec-Chem Limited (Rs 8,300 lakh), and issue expenses (Rs 158 lakh). Rs 2,990.95 lakh was utilized for General Corporate Purpose towards subsidiary investment and capital expenditure. The remaining Rs 3,079.97 lakh is temporarily parked in Fixed Deposits with Axis Bank. There is a minor delay in GCP utilization against the estimated schedule, but the company plans to deploy it in the subsequent fiscal year as permitted under the offer document.
Positive for shareholders - The monitoring report confirms proper utilization of rights issue funds as per the Letter of Offer with no deviations, indicating good corporate governance. The minor delay in General Corporate Purpose spending is within permissible limits per the prospectus.