We hereby submit Monitoring Agency Report for the quarter ended June 30, 2025 - IPO.
YATHARTH · price
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Awaiting price reaction for this filing.
Yatharth Hospital submitted the quarterly Monitoring Agency Report prepared by CARE Ratings for the IPO proceeds of Rs. 569.71 crore raised in July 2023 (issue size Rs. 610 crore). As of June 30, 2025, the company has utilised Rs. 513.10 crore, leaving Rs. 56.61 crore unutilised. No new spending took place during Q1 FY26 across any of the six objects. Fully utilised items include repayment of company borrowings (Rs. 100 cr), capex for Noida and Greater Noida hospitals (Rs. 25.64 cr), and the inorganic growth/acquisitions bucket (Rs. 65 cr). Items still ongoing are subsidiary borrowings repayment (Rs. 142.72 cr used of Rs. 145 cr) and capex for subsidiary hospitals AKS Medical and Ramraja Multispeciality (Rs. 56.30 cr used of Rs. 106.97 cr). The monitoring agency reported no deviation from the stated objects and no material deviation from the offer document. The unutilised Rs. 56.61 crore (plus IPO expenses and accrued FD interest totalling Rs. 71.05 cr) is parked in Axis Bank and PNB fixed deposits and monitoring/public offer accounts earning around 7.25%.
Routine SEBI compliance filing with no deviation from stated IPO objects, so no immediate negative signal for shareholders. However, nearly Rs. 51 crore earmarked for subsidiary hospital capex remains undeployed more than two years after the IPO, which may invite questions on execution speed. Neutral-to-mildly-positive near-term stock impact; investors should track timely deployment of the remaining proceeds.