Monitoring Agency Report issued by the CRISIL Ratings Limited for monitoring the utilization of funds raised through Preferential Issue as approved by the Board and members of the Company in their respective meetings held on June 18, 2024 and July 13, 2024, for the quarter ended on March 31, 2026.
ZOTA · price
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CRISIL Ratings Limited has issued its final monitoring report for Zota Health Care's Rs 179.07 crore preferential issue (equity shares and fully convertible warrants) completed in August 2024. The report confirms full utilization of proceeds across three heads: DAVAINDIA Project expansion (Rs 143.26 crore, with Rs 110.87 crore deployed and Rs 32.39 crore remaining), working capital requirements (Rs 26.86 crore, fully utilized), and general corporate purposes (Rs 8.95 crore, nearly fully deployed). No deviations from stated objects were observed. The escrow account balance stands at nil, marking this as the final monitoring report for this issue.
Positive signal for investors as the fund deployment aligns with disclosed objects and no material deviations were reported. Completion of fund utilization removes uncertainty around capital deployment timeline.