VISA Chrome Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
VISACHROME · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited, the Monitoring Agency, submitted its report for the quarter ended March 31, 2026, regarding VISA Chrome's Rs. 200 crore Preferential Warrant Issue (November 2025). Only Rs. 90.50 crore has been raised so far (45% of target), with Rs. 90 crore utilized and Rs. 0.50 crore remaining idle in an ICICI Bank share application account. No fresh utilization occurred during Q4. The company planned to use Rs. 150 crore for debt repayment and Rs. 50 crore for general corporate purposes. The monitoring agency flagged that the company continues to incur cash losses based on unaudited Q3 FY2026 financials. No deviations from stated objects were observed.
The partial fund raise (less than half the planned amount) and ongoing cash losses suggest financial stress. Shareholders should monitor whether the remaining ~Rs. 109.50 crore will be raised and how quickly debt repayment proceeds given the iron & steel sector headwinds.