Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed Monitoring Agency Report for the quarter ended 30th June, 2025 issued by CRISIL Ratings Limited, towards utilization of proceeds of the Company s Qualified Institutions Placement of approx. ₹1,000 Crore vide Placement Document dated 11th November, 2024, duly reviewed and taken on record by the Board of Directors & Audit Committee of the Company.
WOCKPHARMA · price
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Wockhardt has submitted the CRISIL Ratings Monitoring Agency Report for its Qualified Institutions Placement (QIP) of approximately ₹1,000 crore (net proceeds ₹977.79 crore) conducted in November 2024. The report confirms no deviation from the stated objects of the issue. As of June 30, 2025, the company has utilized ₹583.08 crore out of the net proceeds: ₹416.31 crore for repayment of borrowings (out of ₹500 crore allocated), ₹32.77 crore for capex and R&D (out of ₹250 crore), and ₹134 crore for general corporate purposes (out of ₹227.79 crore). The remaining ₹394.71 crore of unutilized proceeds is parked in mutual funds and cash credit accounts. Net proceeds were revised upward by ₹3.82 crore due to lower-than-estimated issue expenses, with the surplus added to the general corporate purposes bucket.
This is a routine compliance filing confirming disciplined use of QIP funds with no deviations. The relatively slow deployment of capex/R&D funds (only 13% utilized after two quarters) and the shift of redeemed mutual fund proceeds into cash credit accounts (outside the monitoring account) are minor points to note. For shareholders, the report reinforces transparency on fund usage but is unlikely to move the stock on its own.