Black Box Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, as required by SEBI regulations. The report, prepared by CARE Ratings Limited, details the utilization of proceeds from a preferential issue. The company has followed the revised objects as approved by shareholders, with the issue size adjusted due to undersubscription. The report confirms that utilization of funds aligns with these revised objectives.
Monitoring Agency Report Filed for Q3 2026
Black Box Limited has officially transmitted its Monitoring Agency Report to the Bombay Stock Exchange and the National Stock Exchange of India. This report covers the financial quarter ending September 30, 2026, and is a mandatory submission as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Report Prepared by CARE Ratings
The comprehensive report has been prepared by CARE Ratings Limited, acting as the Monitoring Agency. It addresses the utilization of funds raised through a preferential issue. The total issue size for this preferential offer was ultimately Rs. 386.36 crore, following an initial offer of up to Rs. 410.00 crore which saw undersubscription.
Alignment with Revised Objects
A key aspect highlighted in the report is that the utilization of issue proceeds during the quarter was in line with the revised objects. These revisions were approved via a special resolution by shareholders on March 19, 2025. The company has ensured that funds are being deployed according to these updated objectives, addressing aspects such as investment in subsidiaries, general corporate purposes, and working capital requirements.
Utilization Details
During the quarter, the company reported the utilization of funds under the ‘Working Capital requirement of the company’ object. The report notes that FDRs amounting to Rs. 214.33 crore were created from the current account held with the Bank of Maharashtra. The monitoring agency’s review indicates that all utilization is as per disclosures and aligns with the revised objectives, with no material deviations observed in terms of expenditure or the means of finance.
Progress in Objects
The report also provides a breakdown of progress in the utilization of funds across different objects. For ‘Investment in Subsidiaries’, a total of Rs. 241.36 crore was allocated, with Rs. 71.70 crore utilized during the quarter, leaving an unutilized balance of Rs. 169.66 crore. For ‘General Corporate Purpose’, Rs. 45.00 crore was allocated, with Rs. 40.18 crore utilized, leaving Rs. 4.82 crore unutilized. The ‘Working Capital requirement’ saw Rs. 100.00 crore allocated, with Rs. 60.15 crore utilized, leaving Rs. 39.85 crore unutilized.
Deployment of Unutilized Proceeds
Unutilized proceeds have been deployed in fixed deposits with the Bank of Maharashtra, amounting to a total of Rs. 214.33 crore, with a stated return on investment. The total market value of these investments as at the end of the quarter was Rs. 214.87 crore.
Source: BSE
