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CRISIL Ratings report shows Rs 1,085.97 million raised allocated to general corporate purposes
30-Jul-2026, 09:14
A monitoring agency report from CRISIL Ratings Limited reveals that Rs 1,085.97 million of funds raised through a public issue have been allocated to general corporate purposes, with spending detailed across categories including business development, information technology, and employee benefits. As of the report date, a substantial Rs 774.96 million, approximately 71% of the total funds, remains unutilized and is primarily held in short-term fixed deposits totaling Rs 300 million with Yes Bank and various bank accounts including ICICI Bank and Axis Bank. The report indicates no delays in implementation and highlights board approval for the fund utilization, demonstrating transparency in the process. The investments in short-term instruments suggest the company may be managing liquidity or anticipating near-term needs.
A monitoring agency report from CRISIL Ratings Limited reveals that Rs 1,085.97 million of funds raised through a public issue have been allocated to general corporate purposes, with spending detailed across categories including business development, information technology, and employee benefits. As of the report date, a substantial Rs 774.96 million, approximately 71% of the total funds, remains unutilized and is primarily held in short-term fixed deposits totaling Rs 300 million with Yes Bank and various bank accounts including ICICI Bank and Axis Bank. The report indicates no delays in implementation and highlights board approval for the fund utilization, demonstrating transparency in the process. The investments in short-term instruments suggest the company may be managing liquidity or anticipating near-term needs.