PCBL Chemical Limited has submitted the Monitoring Agency Report from CRISIL Ratings for the quarter ended December 31, 2025. The report details the utilization of proceeds from the Preferential Issue of warrants convertible into equity shares. For the quarter, no proceeds were utilized for the objects, as the focus was on the conversion process. The total issue size remains at Rs 448,00,00,000, and as of the quarter end, the entire amount has been received following warrant conversions.
Monitoring Report Submission for Preferential Issue
PCBL Chemical Limited has formally disclosed the Monitoring Agency Report for the period ending December 31, 2025, as required by regulatory guidelines. This report, prepared by CRISIL Ratings Limited, specifically covers the monitoring of proceeds related to the Preferential Issue of warrants that are convertible into the company’s equity shares.
Issue Details and Promoter Information
The original issue, which spanned from May 06, 2024, to May 07, 2024, involved warrants convertible into equity shares. The total size of the issue, assuming full conversion, was set at Rs 448,00,00,000 (for up to 1,60,00,000 warrants). The company belongs to the Carbon Black industry sector, with Rainbow Investments Limited noted as the promoter entity.
Utilization of Proceeds for the Quarter
A key finding in the monitoring report confirms that no proceeds were utilized for the objects of the issue during the reported quarter (October to December 2025). The Monitoring Agency noted that there were no material deviations observed regarding the utilization status.
Progress Against Objects
The designated objects for the funds raised include Debt Repayment, Funding working capital, and General Corporate Purpose (GCP). The original cost allocation for Debt Repayment and Working Capital was Rs 168,00,00,000.00 each, while GCP was allocated Rs 112,00,00,000.00.
- Debt Repayment: Total utilization up to the quarter end was Rs 42,00,00,000.00, leaving an unutilized amount of Rs 126,00,00,000.00.
- Working Capital: Total utilization up to the quarter end was Rs 42,00,00,000.00, leaving an unutilized amount of Rs 126,00,00,000.00.
- GCP: Total utilization up to the quarter end was Rs 28,00,00,000.00, leaving an unutilized amount of Rs 84,00,00,000.00.
Total Proceeds Received
The report highlights a significant development regarding the inflow of funds. As of the end of the quarter, PCBL Chemical Limited confirmed that it has received the entire issue proceeds of Rs 448,00,00,000.00. This was achieved as warrant holders converted their warrants into equity shares during the reported quarter, contributing Rs 336,00,00,000.00, in addition to the initial tranche received earlier.
Deployment of Unutilized Proceeds
Regarding the unutilized portion of the funds, the management undertaking confirms that the funds remaining from the original issuance were deployed into the Bajaj Mutual Fund (Folio: 70112304151). The Amount Invested in this deployment was Rs 336,00,00,000.00, yielding earnings of Rs 3,48,590.45 as of December 31, 2025.
Declaration of Compliance
The Monitoring Agency confirmed that all utilization reviewed aligns with the disclosures made in the offer document. Furthermore, there were no delays observed in the implementation timelines for the objects, as the relevant objects were not yet due for completion or were marked as not applicable for delay reporting.
Source: BSE
