Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith Monitoring Agency Report for the quarter ended March 31, 2025, issued by Crisil Ratings Limited, the Monitoring Agency appointed in respect of utilization of proceeds of the Initial Public Offer of the Company.
VENTIVE · price
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Awaiting price reaction for this filing.
Ventive Hospitality Limited has submitted the Monitoring Agency Report from Crisil Ratings Limited for the quarter ended March 31, 2025, covering the use of its IPO proceeds raised in December 2024. The IPO raised Rs 16,000 million gross (Rs 15,194.56 million net), earmarked for repaying borrowings (Rs 14,000 million), general corporate purposes or GCP (Rs 1,194.56 million), and issue expenses (Rs 805.44 million). As of March 31, 2025, the company has used Rs 14,000 million fully to repay/prepay borrowings, Rs 1,009.56 million for working capital needs under GCP, and Rs 747.69 million toward issue expenses. About Rs 242.75 million remains unutilized, parked in bank accounts of subsidiaries and the public issue account. The MA confirmed no deviation from disclosed objects, though there is a delay in completing full GCP deployment due to pending regulatory approvals, with the balance expected to be used in Q1 FY2026.
Positive that 100% of the main borrowings-repayment objective has been achieved, which should reduce interest costs and strengthen the balance sheet. Minor negative: a delay in fully deploying GCP funds due to regulatory approvals, though the unutilized amount is small (about 1.5% of issue size) and is expected to be used in the next quarter.