Report of Monitoring Agency U/R 16 of SEBI (LODR) Regulations,2015 with regard to utilization of proceeds of Rights Issue
THANGAMAYL · price
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Thangamayil Jewellery has submitted the monitoring agency report from CARE Ratings for the quarter ended June 30, 2025, tracking use of its Rs. 510 crore Rights Issue (open Feb 21 – Mar 4, 2025). Of the total, Rs. 178.50 crore came from promoters via unsecured loans that were converted into equity, while Rs. 331.50 crore came through the allotment account. As of June 30, 2025, the company has used Rs. 489.44 crore (around 96%), with Rs. 20.56 crore still unutilized. All six planned new retail stores have been set up (Rs. 8.71 crore spent), inventory for new stores is largely in place at Rs. 380.51 crore out of the planned Rs. 401.03 crore, and the Rs. 97.67 crore general corporate purpose allocation was fully used earlier. The remaining Rs. 29.24 crore is parked in fixed deposits with Yes Bank and HDFC Bank earning around 5.8–6% returns. The monitoring agency flagged no deviations from the stated objects.
Good news for shareholders — funds are being deployed as promised with no diversions, promoters have shown strong faith by infusing Rs. 178.50 crore, and the core growth plan (six new stores and inventory build-up) is on track, supporting future revenue expansion at this jewellery retailer.