Please find enclosed herewith the Monitoring Agency Report for the quarter ended December 31, 2025, issued by ICRA Limited, Monitoring Agency, in respect of utilisation of proceeds from preferential issue of equity shares and fully convertible warrants.
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ICRA Limited has submitted its final Monitoring Agency Report for the quarter ended December 31, 2025, on the use of proceeds from Optiemus Infracom's preferential issue of equity shares and fully convertible warrants. The original issue size of Rs 434.407 crore was revised to Rs 296.368 crore due to undersubscription, with net proceeds of Rs 201.389 crore received so far (part payment against warrants outstanding). Of this, Rs 201.119 crore has been deployed across six objects, with Rs 95.249 crore shown as unutilized (only Rs 0.27 crore is actually lying idle in the subscription account; the balance represents pending warrant payments). Shareholders approved a change in fund deployment at the AGM on September 30, 2025, shifting more money toward working capital and away from certain subsidiary investments. The Monitoring Agency found no material deviation, no major change in means of finance, and confirmed all objects are on schedule for completion by March 31, 2027 (subsidiary investments) and December 31, 2026 (working capital and GCP).
This is a routine compliance filing, not a new corporate action — the preferential issue itself was done in early 2025. Shareholders gain visibility on how the Rs 296 crore raised is being deployed, mainly into subsidiaries (electronics, drones, glass tech JV) and working capital. No negative signals for the stock; all deployment is on track and within approved objects.