Pursuant to Reg 32(6) of SEBI (LODR) Regulations, 2015 & Reg 82(2) of SEBI (ICDR) Regulations, 2018, please find enclosed herewith: 1) Monitoring Agency Report for quarter ended 31st ....
Awaiting price reaction for this filing.
Avasara Finance Limited (formerly TRC Financial Services Limited, BSE Scrip: 511730) has submitted its first Monitoring Agency Report for the quarter ended March 31, 2026. The company raised Rs. 10.00 crore through a Rights Issue of 1,00,01,800 equity shares at Rs. 10 per share, which closed in January 2026. Of the Rs. 10 crore raised, only Rs. 0.64 crore has been utilized (Rs. 0.36 crore for general corporate purposes and Rs. 0.28 crore for issue expenses), leaving Rs. 9.36 crore unutilized. The unutilized funds are deployed in liquid mutual funds (Axis Liquid Fund Rs. 7.17 crore) and fixed maturity plans (Rs. 1.00 crore), with the balance in monitoring and current accounts. The Monitoring Agency (Brickwork Ratings) confirms no deviations from the objects disclosed in the offer document, no delays in implementation, and all statutory approvals have been obtained.
The slow utilization of proceeds is normal as this is the first monitoring report after the rights issue closed. The company is parking unutilized funds in liquid investments, which is standard practice. Shareholders should note that Rs. 6.30 crore earmarked for lending business activities and Rs. 1.00 crore for investment advisory acquisition remain entirely unutilized, with deployment timelines extending to Financial Year 2026-27.