Monitoring agency report of preferential issue of Equity Shares and Convertible Warrants as approved by Shareholders on 25th July 2025 and 12th December 2025 (revised).
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W.S. Industries (India) Limited has filed its quarterly monitoring agency report for the preferential issue approved by shareholders. The issue, completed between 15th-29th October 2025, consisted of 1.65 crore equity shares and 2.75 crore convertible warrants at Rs. 100 each, totaling Rs. 440 crore. However, significant undersubscription occurred - only 20 lakh equity shares (Rs. 20 crore) and 2.25 crore warrants (Rs. 225 crore face value) were subscribed. Total proceeds received amount to Rs. 76.25 crore, as only 25% upfront was received for warrants. The monitoring agency (India Ratings) confirms no deviation from the revised objects as approved by shareholders on 12th December 2025. Proceeds are deployed in fixed deposits with Axis Bank and Union Bank totaling Rs. 14.02 crore. The revised objects include land acquisition (Rs. 160 crore from warrants), repayment of security deposits (Rs. 53.70 crore combined), working capital (Rs. 16 crore), and general corporate purposes (Rs. 15.30 crore).
No negative impact - the monitoring agency confirms proper utilization of proceeds as per approved objects. However, the significant undersubscription (only 17% of equity shares subscribed) may indicate limited investor appetite or confidence in the company's current position.