Pursuant to Regulation 162A(4) of SEBI ICDR Regulations, 2018 and Regulation 32 (6) of SEBI Listing Regulations, 2015, we are enclosing herewith the Monitoring Agency Report for the quarter ended March 31, 2025, issued by ICRA Limited, in respect to utilization of proceeds from Preferential Issue of the Company.
WINDMACHIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Windsor Machines has filed the ICRA Monitoring Agency Report for the quarter ended March 31, 2025, tracking how it has used the proceeds of its Rs. 725 Crore preferential issue (equity plus fully convertible warrants issued between Jan 2024 and Jan 2025 at Rs. 191.85 per share). Only Rs. 462.50 Crore was actually received so far because part payment against warrants is still pending, so ICRA is monitoring that amount. Of this, Rs. 383.63 Crore has already been spent: Rs. 342.77 Crore on acquiring Global CNC Private Limited (nearly the full Rs. 344 Crore earmarked), Rs. 20.86 Crore on capex, and Rs. 10 Crore each towards working capital of the company and Global CNC. Rs. 78.87 Crore lies idle in the share application account. ICRA confirmed no deviation from stated objects and all project timelines are on schedule, with GPCB approval received.
Reassuring for shareholders — the biggest planned use (Global CNC acquisition) is essentially done and there are no deviations from promised use of funds. However, over half of the announced Rs. 725 Crore (warrant-linked) is still pending receipt, and large allocations to capex (Rs. 144 Crore unused) and general corporate purposes (Rs. 100 Crore untouched) remain to be deployed, meaning more updates will follow.