Monitoring Agency Report for the quarter and half year ended September 30, 2025 - in relation to the Right Issue of Unison Metals Limited
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Unison Metals Limited has submitted the Monitoring Agency Report from CARE Ratings Limited for the quarter and half year ended September 30, 2025, in connection with its Rs. 34.00 crore Rights Issue (open from June 5 to July 4, 2025). The total issue size was revised down from Rs. 34.33 crore to Rs. 34.00 crore because a few proposed allottees did not subscribe. The entire Rs. 34.00 crore has been fully utilized across the planned objects: Rs. 5.00 crore for purchase of land, Rs. 17.75 crore for loan repayment, Rs. 4.00 crore for working capital, Rs. 7.00 crore for purchase of machinery, and Rs. 0.25 crore for issue-related expenses. The General Corporate Purpose allocation of Rs. 0.30 crore was dropped entirely. The Monitoring Agency flagged reallocation within the loan repayment head (Rs. 1.03 crore more toward Letter of Credit and Rs. 1.03 crore less toward unsecured loans) and noted comingling of funds in the company's cash credit account, relying on management declarations and a chartered accountant certificate to confirm utilization.
For shareholders, the report confirms that the rights issue proceeds have been fully deployed as per the stated objects with no major deviation, which is a neutral-to-positive governance signal. However, promoter holding has sharply fallen from 51.61% to 29.08% because promoters did not largely subscribe to their rights entitlement, which could be a concern for investors watching promoter commitment.