We hereby submit Monitoring Agency Report for the quarter ended March 31, 2026 - QIP.
YATHARTH · price
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Yatharth Hospital completed a Qualified Institutional Placement (QIP) in December 2024 raising Rs 6,249.95 million (net proceeds Rs 6,039 million). The Monitoring Agency Report from Crisil Ratings confirms all QIP funds have been fully utilized as per the stated objects. During the quarter, an inadvertent misuse of Rs 0.46 million (0.01% deviation) was detected and promptly rectified from internal accruals. The proceeds were deployed for: repayment of borrowings (Rs 956.80 million), acquisition of two hospitals in Model Town Delhi and Faridabad Haryana (Rs 2,173.85 million), purchase of medical equipment (Rs 1,129.70 million utilized, Rs 387.66 million remaining), and general corporate purposes (Rs 1,390.99 million). Both hospitals have commenced operations in July and September 2025 respectively.
The QIP funds have been substantially deployed as intended with no material deviations. The minor deviation was rectified promptly, indicating good fund management governance. Full utilization of proceeds for hospital acquisitions and equipment purchases should support revenue growth.