Sterlite Technologies Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by CARE Ratings Limited, details the utilization of proceeds from a preferential warrants issue. The company confirms that the utilization of funds is in line with the disclosures made in the Offer Document.
Monitoring Agency Report for Preferential Issue Submitted
Sterlite Technologies Limited has filed its Monitoring Agency Report for the quarter ending September 30, 2026. This report, a requirement under SEBI regulations, outlines the utilization of proceeds from a preferential warrants issue, facilitated by CARE Ratings Limited acting as the Monitoring Agency.
Key Findings of the Report
The report confirms that the utilization of the issue proceeds by Sterlite Technologies Limited aligns with the disclosures made in the Offer Document. There have been no material deviations observed in the utilization of funds or the means of finance for the disclosed objects of the issue. All government and statutory approvals related to the objects have been obtained, and there are no unfavorable events affecting the viability of these objects.
Utilization Details
The objects for monitoring include Repayment/Servicing of financial facilities availed by the company and General corporate purposes. The total cost allocated for these objects was Rs. 498.30 crore. As of September 30, 2026, Rs. 111.30 crore was utilized for the repayment/servicing of financial facilities, and Rs. 13.28 crore for general corporate purposes. The total unutilized amount stands at Rs. 373.73 crore for financial facilities and Rs. 124.58 crore for general corporate purposes.
It is noted that Rs. 124.58 crore, representing 25% of the Warrant Issue Price, was received at the time of subscription in Q4FY26. The report indicates that no funds were received during Q2FY27.
Source: BSE
