Monitoring agency report: nil deviation in use of Rs. 204.97 crore preferential issue proceeds
CARE Ratings, the monitoring agency for Bajaj Healthcare's preferential issue, has given its report for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- Deviation from objects
- Nil
- Issue size
- Rs. 204.97 crore
- Warrant balance paid
- Rs. 52.71 crore
What this update is
Bajaj Healthcare has shared the Monitoring Agency Report of CARE Ratings Limited for the quarter ended September 30, 2026. A monitoring agency is appointed when a company raises money through a preferential issue, and it checks each quarter whether the money is being used for the purposes stated at the time of the issue.
Deviation from objects
- Deviation from the objects of the issue: Nil; range of deviation is not applicable.
- Major deviation versus earlier monitoring agency reports: No. There were no deviations reported in the earlier monitoring agency reports.
- Utilization of proceeds during the quarter was as per the offer letter, and all government/statutory approvals related to the objects have been obtained.
- No favourable or unfavourable event affecting the viability of the objects was reported.
Small refund from a cancelled property deal
- During Q2FY27 the company received a refund of Rs. 0.45 crore following the cancellation of a property deed.
- The advance for the property was made in Q1FY27; the seller cancelled the transaction in Q2FY27 and refunded the entire advance to the company in the current quarter.
Where the issue stands
- The company had proposed up to 40,44,852 equity shares and 20,79,409 convertible warrants at Rs. 338 each (including premium of Rs. 333 each), aggregating Rs. 207.00 crore.
- The equity share portion was marginally undersubscribed and the warrant portion fully subscribed. The company allotted 39,84,852 equity shares and 20,79,409 convertible warrants, taking the aggregate issue size to Rs. 204.97 crore; the shortfall was 60,000 shares.
- The company initially received Rs. 152.26 crore, being the full subscription amount on the allotted equity shares and 25% upfront on the warrants.
- The balance 75% of the warrant portion, Rs. 52.71 crore out of Rs. 70.28 crore, was remitted in Q4FY26 when the warrant holders exercised their conversion option.
- 20,79,409 equity shares of face value Rs. 5 each were allotted on full conversion, as approved by the Board on March 18, 2026.
- Approvals from NSE and BSE for the listing and trading of these 20,79,409 equity shares were received in the quarter ended June 30, 2026.
How to read it
A monitoring agency report is a recurring disclosure about how raised money is being applied. Here it records that the proceeds were used in line with the stated objects, shows nil deviation, and notes a small refund that came back to the company after a property transaction fell through.
Also from Bajaj Healthcare
Bajaj Healthcare uploads audio recording of Q2 & H1 FY27 earnings call held October 19, 2026
19 Oct 2026
Q2 FY27 release: revenue up 18.9% YoY to Rs. 175.9 Crore, PAT up 26.9%, credit rating upgraded
17 Oct 2026
Board approves Q2 results with unmodified review; NCLT clears Genxrx acquisition
17 Oct 2026
More numbers
- Aggregate issue sizeRs. 204.97 crore
- Proposed aggregate issue sizeRs. 207.00 crore
- Amount initially receivedRs. 152.26 crore
- Balance 75% warrant amount paid on conversionRs. 52.71 crore
- Refund received on cancellation of property deedRs. 0.45 crore
- Equity shares allotted39,84,852
- Warrants allotted and later converted20,79,409
- Shortfall in equity shares allotted60,000 shares
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.