Please find enclosed Monitoring Agency Report for the quarter ended March 31, 2026.
TREJHARA · price
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Trejhara Solutions Limited has filed its quarterly monitoring agency report for the quarter ended March 31, 2026, covering the utilization of Rs 162.17 crore raised through a preferential issue (equity shares of Rs 13.20 crore and convertible warrants of Rs 148.97 crore). During the quarter, Rs 50.44 crore was deployed toward strategic acquisitions: Rs 15 crore into a new subsidiary (GS Marketing Associates Private Limited) for acquiring GS Marketing Associates' exhibition and trade fairs business, and Rs 35.44 crore for acquiring 100% stake in LP Logistics Plus LLC, a logistics and warehousing company based in Dubai. Both acquisitions are completed. The remaining Rs 111.73 crore is yet to be received from warrant holders who have 18 months to convert warrants into equity. The Monitoring Agency, CRISIL Ratings Limited, confirmed all utilization is as per the offer document with no deviations or delays. A notable risk exists: warrants were issued at Rs 216 per share while the current market price is Rs 166, and falling below the Rs 162 conversion threshold could lead to non-exercise of conversion rights.
The fund deployment toward acquisitions demonstrates progress in the company's inorganic growth strategy, diversifying into logistics and exhibitions sectors. However, warrant holders may decline conversion if the share price remains below Rs 162, risking the company not receiving the full Rs 111.73 crore anticipated from warrant conversion.