The Board of Directors has approved the appointment of M/s Brickwork Ratings India Private Limited, SEBI registered Credit Rating Agency as Monitoring Agency to monitor the utilization ....
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Viram Suvarn Ltd (formerly Veeram Securities Limited) has informed BSE that its Board of Directors, at a meeting held on December 22, 2025, approved the appointment of Brickwork Ratings India Private Limited as the Monitoring Agency for the company's Rights Issue. Brickwork Ratings is a SEBI-registered Credit Rating Agency based in Bangalore. The appointment is in line with SEBI Listing Regulations and the agency will track how the funds raised through the Rights Issue are used, as per the objects disclosed in the Letter of Offer. No details on the size of the Rights Issue or the specific use of proceeds were provided in this filing.
This is a routine compliance disclosure confirming that an independent agency is in place to oversee the use of Rights Issue funds, which provides shareholders with assurance that the capital raised will be used as promised. There is no direct impact on the stock price, but it signals that the Rights Issue process is progressing.