Please find attached monitoring agency report for the quarter ended 31st March,2025.
SENCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Senco Gold filed the final Monitoring Agency Report from ICRA Limited for its Qualified Institutional Placement (QIP) conducted in December 2024. The company raised Rs. 459 crores (40.80 lakh shares at Rs. 1,125 each), with net proceeds of Rs. 443.42 crores earmarked for two purposes: Rs. 350 crores for repaying/pre-paying borrowings and Rs. 93.42 crores for general corporate purposes (GCP). ICRA confirmed no deviation from stated objects. As of Q4 FY2025, Rs. 349.92 crores (nearly 100%) of the debt repayment objective has been completed, and Rs. 14.22 crores of the Rs. 15.58 crores issue expenses have been spent. However, none of the Rs. 93.42 crores earmarked for GCP has been utilized during FY2025. The unutilized Rs. 94.78 crores is parked in fixed deposits with Yes Bank and Bandhan Bank earning 7.35%–7.65%, plus Rs. 1.78 crores in an ICICI Bank monitoring account.
Positive for shareholders as nearly the entire debt repayment objective has been achieved, which should reduce interest costs and improve the balance sheet. The delay in deploying the Rs. 93.42 crore GCP portion is a minor watch point, though the funds are safely parked in FDs earning attractive returns of over 7%. No red flags or deviations were noted by the monitoring agency.