Affle 3i Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, detailing the utilization of proceeds from its preferential issue. The report, prepared by ICRA Limited and ACER Credit Rating Private Limited, confirms that fund utilization aligns with the stated objects and shareholder resolutions, with no material deviations observed. The company also notes a revision in net proceeds due to actual offer-related expenses being higher than estimated.
Affle 3i Limited Submits Preferential Issue Fund Utilization Report
Affle 3i Limited has submitted its Monitoring Agency Report for the first quarter of the fiscal year 2026, covering the period ended June 30, 2026. This report, prepared in compliance with regulatory requirements, provides an overview of the utilization of proceeds from the company’s preferential issue.
Key Findings from Monitoring Agencies
Both ICRA Limited and ACER Credit Rating Private Limited, acting as Monitoring Agencies, have reviewed the fund utilization. The reports indicate:
- No material deviation from the stated objects of the issue. Where utilization differed from the initial offer document, it was in line with shareholder-approved changes.
- The utilized funds were confirmed against the disclosures in the Offer Document.
- Shareholder approval was obtained for any material deviations in expenditures.
- No major deviation was observed compared to previous monitoring agency reports.
- All necessary Government and statutory approvals related to the objects have been obtained.
Financial Details and Updates
The total issue size was INR 749.02 Crore. The net proceeds, as per the EGM Notice, were INR 738.00 Crore. However, a revised net proceeds amount of INR 737.43 Crore is noted due to issue-related expenses being INR 0.6 crore higher than estimated. The report also details the deployment of unutilized proceeds across various instruments, including fixed deposits and mutual funds.
The report confirms that the implementation of the objects remains on schedule as per the Offer Document, with no significant delays anticipated. Details on the utilization of funds for General Corporate Purpose (GCP) are also provided, outlining amounts allocated for working capital requirements of foreign subsidiaries and loan repayments.
This disclosure ensures transparency regarding the use of funds raised through the preferential issue and adherence to regulatory guidelines.
Source: BSE
