We submit herewith the monitoring agency report for the quarter ended 30th June, 2025
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Vishal Fabrics Ltd has submitted the Monitoring Agency Report from CARE Ratings for Q1 FY26, tracking the use of proceeds from its Rs. 153 crore preferential issue of 5 crore equity warrants allotted on September 12, 2024. During the quarter, the company raised Rs. 65.64 crore (Rs. 38.25 crore from warrant subscription plus Rs. 27.39 crore from partial conversion of 1.19 crore warrants into equity shares). The entire Rs. 27.39 crore received during the quarter was used to repay unsecured loans, with Rs. 23.60 crore of unutilized funds parked in the allotment account. No deviation from stated objects was reported, and the working capital, general corporate purposes, and issue expense components remain untouched so far. The Monitoring Agency also flagged resignations of some Key Managerial Personnel over the last two quarters as a relevant disclosure for investors.
Reassuring for shareholders as fund usage is on track with no deviations, though most of the Rs. 153 crore raise is still pending deployment. The KMP resignations noted in the report are a minor governance watchpoint, but overall this is a routine compliance update with no negative trigger on the stock.