AIArmee Infotech544951Routine SEBI update

Monitoring agency reports no deviation in use of public issue proceeds

Armee Infotech has shared the First Monitoring Agency Report from Brickwork Ratings for the quarter ended September 30, 2026, on the use of money raised in its public issue.

By ScoutQuest · Thu 5 Nov 2026, 9:02 PM IST · 2 min read

Fresh Issue Size

80,00,000 equity shares raising Rs. 300.00 crore

Funds in Public Issue Account (as on Sep 30, 2026)

Rs. 299.98 crore

Cumulative Transfers by Oct 03, 2026

Rs. 300.00 crore

First monitoring report on the public issue proceeds

The company has disclosed the First Monitoring Agency Report prepared by Brickwork Ratings India Private Limited for the quarter ended September 30, 2026, in relation to the utilisation of proceeds of its fresh issue of equity shares. A monitoring agency is an independent entity appointed to track whether the money raised in a public issue is actually used for the purposes stated at the time of the issue.

What the report records

• Under the head “Deviation from the objects”, the report states “No”, and the “Range of Deviation” is shown as “Not applicable”. In simple terms, the monitoring agency has not flagged any diversion of the issue proceeds away from the stated objects.
• The company belongs to the IT infrastructure and IT managed services sector, and its promoters are named as Mr. Ridhish Kiritbhai Patel, Ms Ami Ridhish Patel and Mr. Kiritkumar Chimanbhai Patel.

The issue and the money flow

• The funds were raised through a fresh issue of equity shares aggregating Rs. 300.00 crore.
• The issue comprised 80,00,000 equity shares at a price of Rs. 375 each, with both the amount at offer and the amount for which documents were received shown as Rs. 300.00 crore.
• The subscription money was first received through the ASBA mechanism and held with the syndicate and self-certified syndicate bank accounts. As on September 30, 2026, Rs. 299.98 crore had been transferred from those bank accounts into the company’s designated public issue bank account.
• The balance came in afterwards, and cumulative transfers aggregating Rs. 300.00 crore were credited to the company’s public issue account by October 03, 2026.

How to read this for a retail investor

• A monitoring agency report is a periodic check, not a verdict on the company’s business or profitability. Here it confirms that, for the quarter ended September 30, 2026, the money moved as intended, with no deviation flagged from the stated objects.
• The entire issue amount of Rs. 300.00 crore is shown as received into the public issue account, which is the pool from which the stated objects are to be funded over time.
• The report itself carries a declaration by the monitoring agency that it does not perform an audit and does not independently verify the information or certifications it receives, and that its views are not an opinion on dealing in the company’s securities. It also notes that the section titled “Comments of the Board of Directors” is filled in by the issuer’s management or audit committee and is not reviewed by the monitoring agency.

What to watch going forward

• The next monitoring agency reports will show, quarter by quarter, how much of the Rs. 300.00 crore has actually been spent against each stated object, and whether any deviation or shortfall is flagged.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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