Please find enclosed herewith Monitoring Agency Report for quarter ended March 31, 2025.
RPTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings, the monitoring agency for Rashi Peripherals' Rs. 600 crore IPO (Feb 2024), confirmed zero deviation from stated objects for the quarter ended March 31, 2025. Of the Rs. 554.14 crore allocated for specific purposes, Rs. 326 crore for loan prepayment and Rs. 220 crore for working capital have been fully deployed. Under General Corporate Purposes (GCP), only Rs. 2.35 crore of the Rs. 8.14 crore allocated has been used so far, leaving Rs. 5.79 crore unutilized — the original FY24 deadline was missed, but the offer document allows deployment in FY25. During the latest quarter, Rs. 0.49 crore was spent on capex from the GCP pool. Unutilized funds are parked in monitoring accounts with Axis Bank (Rs. 2.18 crore unspent issue expenses) and IndusInd Bank (Rs. 5.79 crore).
Mostly positive for shareholders — no misuse or deviation of IPO funds, and the bulk of proceeds are fully deployed as promised. The minor delay in GCP spending is within the flexibility allowed in the offer document and is not material. No negative price impact expected.