Aditya Birla Fashion and Retail Limited has issued a Monitoring Agency Report confirming that there has been no variation or deviation in the utilization of proceeds from its recent rights issue. The report, issued by Axis Bank Limited as the monitoring agency, covers the quarter ended September 30, 2026. This assurance indicates that the funds raised have been used in accordance with the stated objectives, providing transparency for stakeholders.
Monitoring Report Confirms Fund Utilization
Aditya Birla Fashion and Retail Limited (ABFRL) has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by Axis Bank Limited, the appointed monitoring agency, addresses the utilization of proceeds from the company’s rights issue. A key finding highlighted in the report is the confirmation of no material variation or deviation in how the raised funds have been utilized.
Assurance to Stakeholders
This disclosure serves as an important assurance to investors and stakeholders that the funds are being deployed as per the company’s stated objectives during the rights issue. The report is in compliance with SEBI regulations, specifically referencing Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 82(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The findings indicate a straightforward and transparent management of the issue proceeds.
Availability of Information
The company has also stated that this report, along with other relevant disclosures, is made available on its official website, www.abfrl.com, ensuring easy access to information for all interested parties. The monitoring agency, Axis Bank Limited, has duly certified the report, based on information and certifications provided by the company and its independent chartered accountant.
Key Details from the Report
The report details the issue size as Rs. 995.12 Crores, raised through a Rights Issue of equity shares during July 8, 2020, to July 22, 2020. As of September 30, 2026, the company had received Rs. 992.70 Crores, with Rs. 987.50 Crores utilized. A balance of Rs. 0.08 Crores remains in the monitoring agency’s account, and Rs. 5.12 Crores were netted off with issue-related expenses. The primary objects of the issue included repayment of borrowings (Rs. 745.00 Crores) and general corporate purposes (Rs. 244.26 Crores). Progress in these areas shows that Rs. 745.00 Crores have been utilized for borrowings and Rs. 242.51 Crores for general corporate purposes, with minimal unutilized amounts and no deviations noted.
Source: BSE
