RGL Monitoring Agency Report for the quarter ended June 30, 2025.
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Renaissance Global Limited has submitted the final monitoring agency report (issued by CRISIL Ratings) for its December 2024 preferential issue, confirming that the entire Rs 163.49 crore raised has been fully utilized as of June 30, 2025. The proceeds were deployed across four stated purposes: Rs 26.63 crore for business growth, acquisitions and capex (including the acquisition of US-based Jean Dousset Jewelry LLC); Rs 88.37 crore invested in subsidiaries such as Verigold Jewellery FZCO (Dubai), Renaissance Jewelry New York Inc., RD2C Ventures Inc., and Renaissance FMI Inc.; Rs 15 crore for fund-raising expenses; and Rs 33.49 crore for general corporate purposes. The Monitoring Agency confirmed no deviation from the disclosed objects of the issue. A minor reallocation of Rs 1.63 crore was made from the subsidiary investment bucket to the business growth bucket, owing to a higher USD exchange rate at the time of the US acquisition remittance, which was within the 10% flexibility allowed. The preferential issue account balance now stands at nil, marking this as the last monitoring report.
This is a routine compliance filing that gives shareholders assurance that the capital raised in December 2024 was used exactly as promised, with no misuse or deviation. It also highlights the company's international expansion moves—particularly the Jean Dousset Jewelry LLC acquisition and Dubai subsidiary investment—which could support future revenue growth.