Monitoring Agency Report issued by ICRA Ltd., Monitoring Agency, for the quarter ended March 31, 2025
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Ramco Systems has submitted ICRA's Monitoring Agency Report for the quarter ended March 31, 2025, covering the utilization of proceeds from its January 2023 Preferential Issue of ₹160 crore (14,59,854 warrants and 43,79,561 equity shares). ICRA confirmed there is no deviation from the stated objects and that the funds have been deployed as planned. The breakdown shows ₹97.50 crore used for repayment of outstanding borrowings (against a planned ₹95 crore), ₹10 crore for sales and marketing, ₹20 crore for capital expenditure on tangible and intangible assets, and ₹32.50 crore for general corporate purposes (including supplier payments and salary costs across FY2024 and FY2025). All four objects are on schedule, and as of March 31, 2025, the issuer has fully utilized the entire ₹160 crore.
Positive compliance signal for shareholders — the entire preferential issue proceeds have been deployed exactly as disclosed, with no deviation or idle funds, reinforcing management credibility and governance transparency.