Monitoring Agency Report for quarter ended March 31, 2026
VALIANTLAB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research, the monitoring agency, has confirmed that funds from Valiant Laboratories' Rights Issue (completed July-August 2025, raised INR 8,146.88 Lakhs) have been utilised as per the offer document with no deviations. The issue comprised 1,08,62,500 equity shares at INR 75 per share (FV INR 10). Funds were deployed across: promoter loan adjustment (INR 5,800.51L), repayment to promoter entity Dhanvallabh Ventures LLP (INR 139.51L), capital expenditure (INR 180.38L), general corporate purposes (INR 1,956.48L), and issue expenses (INR 70L). The monitoring agency relied on management undertakings, a statutory auditor certificate from Raman S Shah & Co, and bank statements. No unfavorable events affecting project viability were reported. The report was reviewed by the Audit Committee and Board on May 14, 2026.
The clean monitoring report with no deviations from stated objects is a routine compliance update confirming proper fund usage. No immediate impact on the stock is expected as this is a standard post-issuance disclosure with no red flags.