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Crisil Ratings report finds Rs 2,142.67 million unutilized from a public issue due to delays
04-Aug-2026, 07:52
A report from Crisil Ratings Limited, acting as a monitoring agency, assesses the utilization of funds raised through a public issue, revealing significant delays in planned investments. As of July 26, 2026, Rs 2,142.67 million remains unutilized, primarily held in fixed deposits earning interest. While Rs 189.0 million was allocated for bank charges under a general corporate purpose, the company has not yet utilized any funds for Research & Development or Computer Systems, despite initial projections for Fiscal 2026. The company attributes these delays to a reimbursement-based expenditure model, intending to deploy the funds in subsequent periods. The report notes a substantial cash balance and highlights the reliance on information provided by the company, with disclaimers emphasizing that the assessment is not investment advice and does not constitute legal liability.
A report from Crisil Ratings Limited, acting as a monitoring agency, assesses the utilization of funds raised through a public issue, revealing significant delays in planned investments. As of July 26, 2026, Rs 2,142.67 million remains unutilized, primarily held in fixed deposits earning interest. While Rs 189.0 million was allocated for bank charges under a general corporate purpose, the company has not yet utilized any funds for Research & Development or Computer Systems, despite initial projections for Fiscal 2026. The company attributes these delays to a reimbursement-based expenditure model, intending to deploy the funds in subsequent periods. The report notes a substantial cash balance and highlights the reliance on information provided by the company, with disclaimers emphasizing that the assessment is not investment advice and does not constitute legal liability.