PDS Limited has informed the Stock Exchange regarding the Monitoring Agency Report for the quarter ended March 31, 2025.
PDSL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
PDS Limited has submitted the Monitoring Agency Report from CRISIL Ratings for the quarter ended March 31, 2025, covering the use of funds raised through its Qualified Institutional Placement (QIP) conducted in August 2024. The QIP raised gross proceeds of Rs. 43,000 lakhs and net proceeds of Rs. 41,055.96 lakhs. Of this, Rs. 27,836 lakhs (out of Rs. 27,950 lakhs earmarked) has been used to repay borrowings of the company and its subsidiaries, while the entire Rs. 13,105.96 lakhs set aside for strategic acquisitions and general corporate purposes remains unutilized. Total unutilized proceeds stand at Rs. 13,219.96 lakhs, largely parked in fixed deposits with ICICI Bank.
No deviation from the stated purpose of the QIP has been reported, which is a positive signal of disciplined capital use. However, the full acquisition/GCP portion (~Rs. 13,106 lakhs, about 32% of net proceeds) is yet to be deployed, and Rs. 6,667 lakhs could not be used in FY25 — this idle cash may slightly dilute return ratios until deployed, though it earns modest interest in FDs.