Monitoring Agency Report: no deviation in use of Rs. 330.00 crore preferential issue proceeds
Monitoring Agency Report for the quarter ended September 30, 2026, for the Rs. 330.00 crore preferential issue.
By ScoutQuest · · 2 min read
- Issue Size
- Rs. 330.00 crore preferential issue
- Deviation from Objects
- No deviation from the stated objects; range of deviation: not applicable
- Report Period / Security Type
- Quarter ended September 30, 2026; Compulsorily Convertible Debentures
What this update is
This is a quarterly Monitoring Agency Report on how the company has used the money raised through its preferential issue. A Monitoring Agency is an outside agency appointed to keep track of large fund raises and report whether the money is being used for the purposes stated.
Issue details
- Type of issue: Preferential Issue
- Type of securities: Compulsorily Convertible Debentures
- Issue size: Rs. 330.00 crore
- Promoters named in the report: Mr. Onkar Kanwar and Constructive Finance Private Limited
- Sector: Healthcare Services - Hospital
What the Monitoring Agency said
- Deviation from the objects: No
- Range of deviation: Not applicable
- The proceeds from the preferential issue were utilised as per the objectives specified in the subscription agreement during the quarter ended September 30, 2026.
- Means of finance for the disclosed objects have not changed.
- No major deviation observed over earlier monitoring agency reports.
- No favourable or unfavourable events affecting the viability of the objects were reported.
On approvals and technical arrangements
The report marked these as "Not applicable". Per the management certificate, the proceeds are intended for an acquisition or capital expenditure, and any approvals required in connection with the acquisition will be monitored at that point of time. It also stated that technical assistance or collaboration is not required as per the objects of the issue.
Basis of the report
The Monitoring Agency said it relied on a Chartered Accountant certificate, a management certificate and bank statements.
Who reviewed it
The report was reviewed by the Audit Committee at its meeting held on October 30, 2026. The Board of Directors' comments column shows "No comments received" against the items listed.
How to read this
This is a routine quarterly disclosure that tracks whether raised money is going where the company said it would. For a retail investor, the relevant takeaways are that the agency recorded no deviation for the quarter, that the money is earmarked for an acquisition or capital expenditure, and that the total issue size is Rs. 330.00 crore in Compulsorily Convertible Debentures.
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More numbers
- Issue size (as stated by Monitoring Agency)₹330 crore
- Issue size (Issue Details table)Rs. 330.00 crore
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