Please find the attached Monitoring Agency Report issued by Crisil Rating Limited for the quarter ended March 31, 2026
VINEETLAB · price
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Crisil Ratings Limited, as monitoring agency, has submitted its report for the quarter ended March 31, 2026 for Vineet Laboratories' Rights Issue (January 2026). The company raised Rs. 2,996.18 lakhs (net proceeds Rs. 2,921.18 lakhs). Of this, Rs. 1,352.24 lakhs (45%) has been utilized so far, leaving Rs. 1,643.94 lakhs unutilized. The loan repayment (Rs. 284 lakhs) and general corporate purposes (Rs. 670.66 lakhs) are nearly complete. However, the Effluent Treatment Plant (only Rs. 33.75 lakhs of Rs. 270 lakhs) and business expansion (only Rs. 293.65 lakhs of Rs. 1,696.35 lakhs) have seen slow progress. The delay is attributed to issue proceeds being received later than anticipated (February 2026). The company has flexibility to carry forward unutilized funds as per the prospectus terms.
The slow fund utilization may concern short-term investors expecting quick deployment, but the delay is explained by late receipt of proceeds and carries no material deviation from stated objects. The company retains flexibility to deploy remaining Rs. 1,639 lakhs in subsequent fiscal periods.