Monitoring Agency Report for the quarter ended March 31, 2025
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Systematix Corporate Services has submitted the Monitoring Agency Report from CARE Ratings for the quarter ended March 31, 2025, covering the use of proceeds from its Preferential Issue of equity shares that raised Rs. 103.12 crore between October and December 2024. No funds were utilised during the quarter — the entire Rs. 103.12 crore remains unutilised, sitting in 16 fixed deposits with Yes Bank earning 5% to 7.4% interest. Progress on approvals includes in-principle clearance from BSE, MCX, NSE and NCDEX for Rs. 25 crore infusion into subsidiary Systematix Shares and Stocks (India) Ltd, while the application for the remaining Rs. 35 crore is yet to be filed. For the AIF sponsor object, SEBI approval was received on February 20, 2025 for launching a Category 1 AIF scheme, and an application for a Category 2 AIF is in process. The subsidiary originally named Systematix Ventures has been renamed Systematix Wealth & Asset Services Private Limited in April 2025.
Shareholders should note that the company has yet to deploy any of the Rs. 103.12 crore raised about six months ago, though funds are parked safely in bank FDs. The slow pace of utilisation and pending regulatory approvals for the key investment objects could delay value creation, but there is no deviation from stated purposes.