Please find enclosed herewith the Monitoring Agency Report for the quarter ended June 30, 2025, issued by ICRA Limited, in respect to utilization of proceeds from Preferential Issue of the Company
WINDMACHIN · price
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Windsor Machines filed ICRA's monitoring report for the quarter ended June 30, 2025, covering the use of proceeds from its Preferential Issue of equity shares and convertible warrants (total issue size Rs. 725 Cr at Rs. 191.85 each). Out of the total issue, Rs. 462.50 Cr was credited to the net proceeds account by June 30, 2025, as only part payment was received against the warrants. Of the funds available, Rs. 440.46 Cr was utilized, including Rs. 342.77 Cr (nearly full) for acquiring Global CNC Private Limited, Rs. 62.69 Cr towards capex, Rs. 20 Cr for working capital, and Rs. 15 Cr for general corporate purposes (vendors and a one-time worker settlement of Rs. 11.24 Cr). ICRA noted no deviation from the stated objects and confirmed implementation is on schedule for all five use-cases.
Positive for shareholders: the preferential issue proceeds are being deployed as planned with the flagship acquisition of Global CNC almost fully funded, and no deviations or unfavorable events were flagged. The remaining Rs. 284.54 Cr unutilized balance (Rs. 22.04 Cr uncollected from warrant holders) is still pending, so the full dilution from warrant conversion has not yet played out.