Submission of Monitoring Agency Report issued by Care Ratings Limited and statement of deviation or variation report for the quarter ended 31st March,2026
SIMPLEXINF · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Simplex Infrastructures Limited submitted its quarterly monitoring agency report for the preferential issue completed in May 2025. Care Ratings Limited acted as the Monitoring Agency. Total funds raised were Rs. 281.59 crore (out of the approved Rs. 423.69 crore issue size), split between equity shares (Rs. 209.22 crore) and convertible warrants. Of the raised amount, Rs. 172.88 crore has been utilized — Rs. 125.32 crore toward Working Capital and Rs. 47.56 crore toward General Corporate Purpose. The remaining Rs. 108.71 crore is parked in bank fixed deposits and current accounts. No deviations from the disclosed objects were found. However, the monitoring agency flagged that the company's share price has fallen below the warrant conversion price, which may hinder future warrant conversions, and that the company is rated CARE D (INC) due to ongoing delays in debt servicing obligations.
The report is broadly positive in that no misuse of funds was detected and proceeds are being deployed as planned. However, the flagging of a sub-warrant-conversion stock price and a CARE D rating signals financial stress that investors should monitor closely, as it could affect the completion of the capital raise and future equity dilution.