Monitoring Agency Report for the quarter ended March 31, 2026
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Virtuoso Optoelectronics Ltd has filed its quarterly monitoring agency report for Q4 FY26, covering the utilization of Rs. 140 crore preferential issue proceeds from fully convertible share warrants allotted to Malabar India Fund Limited. The company has received Rs. 115 crore so far (Rs. 35 crore initial 25% in August 2025, and Rs. 80 crore balance 75% in three tranches through February 2026), and has utilized Rs. 85 crore of the raised amount. Of the total proceeds, Rs. 28 crore is earmarked for fixed asset acquisition (Rs. 13.77 crore utilized), Rs. 77.50 crore for long-term working capital (Rs. 59.15 crore utilized), and Rs. 34.50 crore for general corporate purposes (Rs. 19.88 crore utilized including Rs. 14.60 crore for SID loan repayment). The monitoring agency Infomerics Valuation and Rating Ltd has confirmed nil deviation from the objects of the issue and no material deviations or delays in implementation.
The filing shows smooth fund deployment with no deviations from stated objects, which is positive for shareholders. The preferential issue is being converted in phases, gradually increasing the equity base for existing shareholders.