Please find attached Monitoring Agency Report for the quarter ended March 31, 2026.
SADHNANIQ · price
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Sadhana Nitro Chem Ltd has submitted its first Monitoring Agency Report for the quarter ended March 31, 2026, covering the utilisation of proceeds from its Rights Issue of INR 263.53 crore conducted in February-March 2026. The Monitoring Agency, Acuite Ratings and Research Limited, has confirmed that there is NO deviation and NO variation in the utilisation of funds. All proceeds have been deployed as per the disclosures in the Offer Document. Of the total INR 263.53 crore raised, INR 251.95 crore has been utilised, leaving INR 11.58 crore unutilised. The unutilised amount is being held in the HDFC Monitoring Agency account. The company clarified that INR 2.89 crore (Inter-Corporate Deposit) was settled in April 2026, and INR 4.04 crore (Long-Term Working Capital) is held for ongoing operational requirements to be utilised within 30-45 days.
This is a positive development for shareholders as it confirms proper deployment of rights issue proceeds with full regulatory compliance. The absence of any deviation or variation validates the company's stated use of funds and should provide confidence to investors.