Sobha Limited has informed the Exchange about the Monitoring Agency Report related to Rights Issue for the quarter ended March 31, 2026.
SOBHA · price
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ICRA Limited, the monitoring agency, has submitted its Q4FY2026 report on Sobha Limited's ₹1,999 crore Rights Issue (opened June 28 and closed July 4, 2024). The report confirms there is no material deviation in the utilisation of issue proceeds — all spending is in line with the Letter of Offer. Of the ₹1,984.25 crore being monitored, ₹1,777.75 crore (about 89.6%) has been deployed as of March 31, 2026, leaving ₹221.28 crore unutilised. The remaining funds are parked in fixed deposits with banks (Axis, DCB, RBL, SBM, HDFC) totalling ₹248.9 crore including accrued interest of ₹5.07 crore. All four stated objects — debt repayment, project funding, equipment purchase, and land/corporate purposes — are on schedule with no delays reported.
The clean monitoring report with zero deviation is a positive signal for rights issue investors, confirming funds are being deployed as committed without any material diversion or delays.