Monitoring agency report for quarter ended March 31, 2026
PARAGMILK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research submitted its quarterly monitoring report on the utilization of INR 161.19 Crores raised through preferential issue of 90 lakh convertible warrants in May 2025. The company has received INR 40.30 Crores so far (25% upfront), with INR 40 Crores utilized and INR 0.30 Crores remaining in a bank account. Funds have been deployed across four categories: Debt Reduction (INR 17.50 Crores), Working Capital (INR 7.80 Crores), Capital Expenditure (INR 5 Crores), and General Corporate Purpose (INR 9.70 Crores). The monitoring agency confirms no deviation from the stated objects of the issue, and all utilization aligns with the offer document disclosures. The balance 75% of warrant value (INR 134.33 per warrant) will be received upon conversion into equity shares within 18 months.
Positive for shareholders as the monitoring agency confirms proper utilization of funds raised without any deviations. The company is on track with its stated objectives of debt reduction, working capital, and capex deployment.