Report of the Monitoring Agency for quarter ended March 31, 2025.
RKSWAMY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Crisil Ratings, the Monitoring Agency, has confirmed that R K Swamy Limited's use of IPO proceeds is in line with the objects stated in the Offer Document, with no deviation reported. The company raised Rs. 1,563.25 million as net IPO proceeds in March 2024 and has utilized Rs. 1,002.52 million so far, leaving Rs. 560.73 million unutilized. Working capital (Rs. 540M) and General Corporate Purposes (Rs. 362.62M) have been fully utilized. However, DVCP Studio setup (Rs. 109.85M) saw zero utilization as the company is still identifying premises, while IT infrastructure (Rs. 42.42M of Rs. 333.42M) and CEC/CATI setup (Rs. 57.48M of Rs. 217.36M) are partially deployed. The unutilized Rs. 560.73 million is parked in fixed deposits with HDFC Bank, Bank of Baroda, and Union Bank of India, earning around 7.65-7.75% interest.
Shareholders should note delays in deploying IPO funds for DVCP Studio, IT infrastructure, and CEC/CATI projects, though the company has extended the timeline to FY2026 citing alignment with business needs. No deviation from stated objects is a positive, but the significant idle funds in FDs (~36% of net proceeds) may draw investor questions on execution speed.