Religare Enterprises Limited submitted its Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of proceeds from a ₹1,500.00 crore Preferential Issue of warrants. The report, issued by CARE Ratings Limited, confirms that all proceeds utilized so far were aligned with the objectives stated in the Offer Document. The monitoring agency noted a total utilization of ₹380.83 crore by the quarter’s end, leaving ₹29.17 crore unutilized.
Monitoring Agency Report Submission
Religare Enterprises Limited has furnished the required Monitoring Agency Report to the stock exchanges for the quarter concluding on December 31, 2025. This report details the utilization of funds raised via the Preferential Issue of Warrants amounting to Rs. 1,500.00 crore, as mandated by the relevant regulations.
Overall Utilization Status
The Monitoring Agency, CARE Ratings Limited, confirmed that all proceeds utilized up to December 31, 2025, were deployed in line with the objectives specified in the Offer Document. The total amount utilized for the objects by the end of the quarter reached Rs. 380.83 crore, resulting in a total unutilized amount of Rs. 29.17 crore.
The agency also noted that there were no material deviations observed from the expenditure plan outlined in the disclosures.
Progress on Specific Objects
Investment in Care Health Insurance Limited (CHIL)
Out of the proposed Rs. 600.00 crore for investment in CHIL, the utilized amount stood at Rs. 256.10 crore by the quarter’s end. A significant update reported was that the balance unutilized amount of Rs. 1.65 crore was refunded to REL in October 2025, following the share allotment on September 30, 2025.
Investment in Religare Broking Limited
For the investment of Rs. 200.00 crore in Religare Broking Limited, Rs. 25.00 crore was utilized during the quarter, bringing the cumulative utilization to Rs. 25.00 crore. The remaining amount is classified as unutilized.
Investment in Religare Housing Development Finance Corporation Limited
An amount of Rs. 10.00 crore was utilized during the quarter towards the planned investment of Rs. 250.00 crore in Religare Housing Development Finance Corporation Limited, resulting in a cumulative utilization of Rs. 10.00 crore for this object.
Repayment of Borrowings
No amount was utilized towards the repayment of borrowings (proposed at Rs. 75.00 crore) during the quarter, with utilization expected towards this object in Q3FY2026.
General Corporate Purpose (GCP)
Total utilization under GCP for the quarter ending December 31, 2025, was Rs. 14.72 crore (comprising Rs. 2.99 crore utilized at the beginning of the quarter and Rs. 11.73 crore utilized during the quarter). These funds were deployed for business expenses, including salary and vendor payments. The total proposed allocation for GCP was Rs. 375.00 crore.
Unutilized Proceeds Deployment
The total unutilized balance of Rs. 29.17 crore as of December 31, 2025, is held across two instruments. The primary portion, Rs. 29.17 crore, consists of the unutilized amount earmarked for investment objects, including Rs. 1.66 crore in an HDFC Current Account and Rs. 27.51 crore in an Axis Money Market Fund, yielding returns between 6-7%.
The deployment schedule indicates that objects like investment in Care Health Insurance Limited and Religare Broking Limited are ongoing, while the repayment of borrowings is expected to be completed in Q2FY26, against a target completion date of March 11, 2027.
Source: BSE
