Monitoring Agency Report for the quarter ended 31st March, 2025
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PCBL Chemical Limited has submitted the Monitoring Agency Report from CRISIL Ratings Limited for the quarter ended March 31, 2025, covering the use of proceeds from its preferential issue of convertible warrants. The total issue size is Rs 448 crore (up to 1.6 crore warrants at Rs 280 each), of which only Rs 112 crore has been received so far as the warrant holders did not exercise any warrants during the January–March 2025 quarter. The entire Rs 112 crore received was fully utilised by the September 2024 quarter — Rs 42 crore for debt repayment, Rs 42 crore for working capital, and Rs 28 crore for general corporate purposes. The remaining Rs 336 crore is expected by November 8, 2025. CRISIL confirmed no deviation from the stated objects and no major changes from earlier monitoring reports.
No negative impact — CRISIL confirmed the company used funds strictly as planned, with no deviations or delays. However, shareholders should note that 75% of the issue proceeds (Rs 336 crore) are still pending as warrant holders have not yet converted, which could affect future capital plans if conversion is delayed further.