STL Networks: CARE Ratings monitoring report on Rs.108 cr preferential issue for Q1FY27
STLNETWORK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings filed its first monitoring agency report for STL Networks' Rs. 108 crore preferential warrant issue for Q1FY27. Of the Rs. 27 crore received upfront from promoter Twin Star Overseas (25% of issue price), Rs. 25 crore was used for loan repayment and Rs. 2 crore is parked in SBI Overnight Fund. No deviation from stated objects. Agency flagged comingling of funds since proceeds moved to the company current account. Company disclosed losses widened to Rs. 99 crore in FY26 from Rs. 32 crore in FY25.
Fund use so far on track, but rising losses and comingling of issue proceeds with operating funds are points investors should keep an eye on.