Monitoring Agency Report for the quarter ended June 30, 2025.
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Nitco Limited has filed the Monitoring Agency Report from Infomerics Valuation and Rating Limited for the quarter ended June 30, 2025, covering the use of funds raised via its Rs. 625.21 crore Preferential Issue (equity shares and convertible warrants at Rs. 92.25 each). Of this, the company has so far received Rs. 463.24 crore (Rs. 409.25 crore from equity shares and Rs. 53.99 crore as 25% of the warrant amount), with the remaining Rs. 161.97 crore due within 18 months. During Q1 FY26, Rs. 7.93 crore was deployed, taking cumulative utilization to Rs. 391.32 crore. Usage so far includes Rs. 197.20 crore for debt/NCD repayment, Rs. 46.66 crore for operational creditors, Rs. 46.17 crore for working capital, Rs. 89.98 crore for real estate acquisition, and Rs. 11.31 crore for general corporate purposes (freight and marble blocks). The unutilized Rs. 71.92 crore is parked in HDFC Bank fixed deposits earning 7.05%-7.50%. The Monitoring Agency confirmed no deviation from stated objects and no delays in implementation.
This is a routine compliance filing that confirms the company is using the preferential issue funds broadly in line with the disclosed plan, with no deviations or red flags. Shareholders get reassurance that Rs. 391 crore out of Rs. 463 crore received has been deployed, though the real estate acquisition and working capital objects are still significantly underutilized versus the original plan.