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Artemis Hospitals utilized Rs 136.89 crore of Rs 330 crore raised, extending fund timeline
03-Aug-2026, 07:29
CARE Ratings Ltd.’s recent monitoring agency report reveals that Artemis Hospitals has utilized Rs 136.89 crore of the Rs 330 crore raised through a recent issuance as of the end of Q1FY27, leaving Rs 193.11 crore unutilized and primarily held in fixed deposits with HDFC, ICICI, and Axis banks. The report, covering the period ending Q1FY27, indicates Rs 17.45 crore was deployed for acquisitions, expansion, and capital expenditures, including medical equipment for a hospital in Raipur and construction in Delhi. The original timeline for fund utilization, initially set for May 15, 2026, has been extended to November 15, 2027, and no funds were used for general corporate purposes during the quarter. The report notes that the accuracy of the findings relies on information provided by Artemis Hospitals.
CARE Ratings Ltd.’s recent monitoring agency report reveals that Artemis Hospitals has utilized Rs 136.89 crore of the Rs 330 crore raised through a recent issuance as of the end of Q1FY27, leaving Rs 193.11 crore unutilized and primarily held in fixed deposits with HDFC, ICICI, and Axis banks. The report, covering the period ending Q1FY27, indicates Rs 17.45 crore was deployed for acquisitions, expansion, and capital expenditures, including medical equipment for a hospital in Raipur and construction in Delhi. The original timeline for fund utilization, initially set for May 15, 2026, has been extended to November 15, 2027, and no funds were used for general corporate purposes during the quarter. The report notes that the accuracy of the findings relies on information provided by Artemis Hospitals.