Monitoring Agency Report for the quarter ended March 31, 2025.
YATHARTH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Yatharth Hospital has filed the Monitoring Agency Report from CARE Ratings covering the use of its ₹610 crore IPO proceeds as of March 31, 2025. Out of ₹569.71 crore earmarked for specific objects, ₹513.10 crore (about 90%) has been deployed, leaving ₹56.61 crore unutilized. Key utilizations include full repayment of company borrowings (₹100 crore), full funding of Noida/Greater Noida hospital capex (₹25.64 crore), and full use of the ₹65 crore inorganic growth/acquisition fund. Subsidiary-level borrowings repayment (₹142.72 cr of ₹145 cr) and subsidiary hospital capex (₹56.30 cr of ₹106.97 cr) are partially done and flagged as 'ongoing' with delays. The unutilized ₹56.61 crore is parked mainly in Axis Bank and PNB fixed deposits earning 7.25% interest, along with balance in monitoring and public offer accounts. Importantly, the report discloses that promoters pledged 13.81% of their shareholding in the company during Q4 FY25, which is a material item for investors.
The report confirms no deviation in use of IPO funds, which is positive for transparency, but the promoter share pledge of 13.81% in Q4 FY25 could weigh on sentiment. Delays in subsidiary capex and remaining unutilized funds suggest ongoing deployment risk, though idle cash is earning reasonable interest in FDs.