Monitoring agency report: nil deviation on Rs. 341.58 crore warrant proceeds
Monitoring agency report for the quarter ended September 30, 2026 on the use of money raised through fully convertible share warrants.
By ScoutQuest · · 2 min read
- Issue size
- Rs. 341.58 crore
- Warrants issued and subscribed
- 36,14,60,300 warrants
- Amount used so far
- Rs. 65.56 crore for working capital requirements and Rs. 74.99 crore for repayment/servicing of financial facilities
Infomerics Valuation and Rating Limited, the monitoring agency for this preferential issue, has reported on how the money raised through fully convertible share warrants was used in the quarter ended September 30, 2026. The company's exchange update of November 04, 2026 encloses that report.
What was raised
- The preferential issue is of fully convertible share warrants aggregating Rs. 341.58 crore, approved by shareholders.
- Total warrants issued and subscribed: 36,14,60,300.
- The share application money deposit received against these warrants is Rs. 85.39 crore. No warrants have been converted into shares during the period.
- Net proceeds receipt: Rs. 152.39 crore.
Where the money is meant to go
- Working capital requirements: Rs. 146.39 crore
- Repayment or servicing of financial facilities availed by the company: Rs. 112.23 crore
- General corporate purposes, plus the two heads above, make up the total object cost of Rs. 341.58 crore, with no revision in the cost of any object.
How much has been used, head by head
- Working capital requirements: Rs. 65.56 crore has been raised till September 30, 2026 and the same amount stands utilised at the end of the quarter, leaving nothing unutilised under this head.
- Repayment or servicing of financial facilities: Rs. 74.99 crore raised and Rs. 74.99 crore utilised, again with nothing unutilised.
What the monitoring agency records
- Deviation from the objects of the issue: Nil; range of deviation: Nil.
- Utilisation is stated to be in line with the offer document, there is no change in the means of finance for the disclosed objects, and no major deviation was observed over earlier monitoring agency reports.
- The agency reports no favourable or unfavourable event affecting the viability of the objects, and no information that may materially affect an investor's decision making.
What this means for a retail reader
A monitoring agency report is a periodic check that the proceeds of a preferential issue are being spent on the purposes shareholders approved. This one records nil deviation, and the two heads where spending has begun show the money raised so far as fully used. The warrants themselves are yet to be converted into shares.
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More numbers
- Issue size of preferential issueRs. 341.58 crore
- Total warrants issued and subscribed36,14,60,300
- Share application money deposit received85.39
- Net proceeds receipt152.39
- Object cost: working capital requirements146.39
- Object cost: repayment/servicing of financial facilities112.23
- Working capital amount utilised at end of quarter65.56
- Repayment/servicing amount utilised at end of quarter74.99
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