Monitoring agency report for quarter ended 31/03/2026 issued by Brickwork Ratings India Private Limited in relation to preferential issue of equity shares and convertible equity warrants ....
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Shish Industries Limited filed its first Monitoring Agency Report with Brickwork Ratings for the quarter ended March 31, 2026. The company raised Rs 145.37 crore through a preferential issue of 4 crore equity shares and 8.4 crore convertible warrants, both priced at Rs 12 per share/warrant. The equity share tranche was fully subscribed at Rs 48 crore. For the warrants tranche (originally Rs 100.87 crore), only Rs 24.34 crore (25%) was received at allotment due to non-allotment of some securities, reducing the tranche to Rs 97.37 crore. The remaining 75% will be received upon conversion within 18 months. Fund utilization shows Rs 62.29 crore deployed out of Rs 145.37 crore, with Rs 25 crore used for general corporate purposes, Rs 18.79 crore for working capital, and smaller amounts for investments and capex. No deviations from stated objects were reported.
The preferential issue structure (equity + warrants) provides capital for expansion and working capital while only requiring 25% upfront for warrants. Funds are being deployed as planned with no red flags reported by the monitoring agency.