Tega Industries Limited has released its Monitoring Agency Report for the quarter ended March 31, 2026, concerning the proceeds from its ₹1,713.29 crore preferential share issue. The report confirms that the total proceeds remain fully unutilized as of the end of the fiscal year. The company has prudently deployed these funds into fixed deposits while it continues the necessary due diligence and evaluation processes for identified inorganic growth and acquisition opportunities.
Utilization of Preferential Issue Proceeds
Tega Industries Limited raised a total of ₹17,13,28,58,764 through the issuance of 85,92,206 fully paid-up equity shares. As of the quarter ended March 31, 2026, no portion of these proceeds has been utilized. The company maintains the entire corpus, which is being held in secure, interest-bearing instruments to preserve capital while waiting for suitable strategic investment opportunities.
Strategic Deployment of Funds
To ensure optimal liquidity management, the unutilized funds were converted into 18.61 crore USD at an exchange rate of INR 92.04/USD. These funds were subsequently invested in the company’s wholly-owned subsidiary, Tega MC Investment PTE LTD, via Optionally Convertible Redeemable Preference Shares (OCRPS). The subsidiary has further placed these amounts into callable fixed deposits for a duration of 120 days, ensuring both safety and yield on the unspent capital.
Future Acquisition Outlook
The company maintains that the delay in the utilization of funds is primarily due to the extended due diligence processes and careful evaluations required for potential acquisitions. Tega Industries is actively pursuing inorganic growth opportunities and expects to deploy the reserved capital in subsequent periods. The board remains committed to utilizing these funds in accordance with the objectives outlined in the original offer document to drive long-term value for shareholders.
Source: BSE
