We have enclosed herewith monitoring agency report in respect of utilization of funds raised through rights issue.
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Starlineps Enterprises has submitted the Monitoring Agency Report from Infomerics Valuation and Ratings Limited for the quarter ended December 31, 2025. The company raised ₹20.75 crore through a rights issue (10.37 crore shares at ₹2 each, including ₹1 premium) via Letter of Offer dated August 28, 2025. As planned, the entire amount was deployed across five objects: ₹8 crore to creditors (suppliers), ₹5 crore for repayment of Indian Bank Cash Credit, ₹7 crore for working capital, ₹0.50 crore for general corporate purposes (TDS, ROC filing fees, salaries, consultancy), and ₹0.25 crore for issue-related expenses. The Monitoring Agency confirmed no deviation from the stated objects and noted that all objects have been completed within Q3FY26 itself, ahead of the fiscal 2026 timeline.
Positive for shareholders — funds raised via the rights issue were utilized exactly as disclosed in the offer document, with full deployment and no diversion, reducing governance and execution risk concerns.