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CRISIL Ratings report reveals delays in utilizing proceeds from a recent rights issue
03-Aug-2026, 06:41
A monitoring report released by CRISIL Ratings Limited indicates delays in the utilization of proceeds from a recent rights issue. As of the quarter ending March 2027, Rs. 10.61 billion of the Rs. 11.20 billion allocated for working capital requirements has been utilized, while Rs. 3.20 billion earmarked for general corporate purposes remains unutilized. Delays are attributed to postponed store openings and inventory procurement, though the company anticipates deploying the remaining funds in subsequent quarters. The report, intended for Indian audiences only, notes Rs. 11.53 million is currently held in monitoring accounts and includes standard disclaimers regarding accuracy, investment advice, and liability.
A monitoring report released by CRISIL Ratings Limited indicates delays in the utilization of proceeds from a recent rights issue. As of the quarter ending March 2027, Rs. 10.61 billion of the Rs. 11.20 billion allocated for working capital requirements has been utilized, while Rs. 3.20 billion earmarked for general corporate purposes remains unutilized. Delays are attributed to postponed store openings and inventory procurement, though the company anticipates deploying the remaining funds in subsequent quarters. The report, intended for Indian audiences only, notes Rs. 11.53 million is currently held in monitoring accounts and includes standard disclaimers regarding accuracy, investment advice, and liability.