Black Box Limited has submitted its Monitoring Agency Report for the quarter ending December 31, 2025, concerning the utilization of proceeds from its Preferential Issue. The report, issued by CareEdge Ratings, confirms that the utilization during the quarter was in line with the revised objects approved by shareholders in March 2025. A total of ₹141.22 crore was utilized during the quarter, leaving ₹22.24 crore unutilized as of the reporting date.
Monitoring Agency Report Submission for Black Box
Black Box Limited formally submitted its Monitoring Agency Report for the quarter ended December 31, 2025, to the stock exchanges on February 13, 2026. This report is mandated under listing regulations pertaining to the company’s Preferential Issue of Share Warrants to Promoter and Non-Promoter categories.
Details of the Preferential Issue
The initial size of the issue was projected at Rs. 410.00 crore, but due to undersubscription following allotment on September 27, 2024, the final issue size settled at Rs. 386.36 crore. The specified securities involved warrants convertible into equity shares, issued at an issue price of Rs 417/- each.
Key Findings on Fund Utilization (Q3 FY2026)
The Monitoring Agency (CareEdge Ratings) confirmed that the utilization during the quarter was subject to revised objects approved via a Special Resolution passed on March 19, 2025. This revision notably added ‘Working Capital requirement of the Company’ as a specific object.
- Total Funds Received Till Date: Rs. 165.54 crore.
- Utilization During the Quarter (Q3 FY2026): Rs. 2.08 crore was utilized specifically for working capital purposes, primarily employee salary payments, as per the revised objects.
- Total Utilized Till Date: Rs. 143.30 crore.
- Total Unutilized Amount: Rs. 22.24 crore as of the end of the quarter.
Utilization Breakdown by Object
The utilization reported during the quarter (Rs. 2.08 crore) exclusively related to the Working Capital object. The funds allocated for Investment in Subsidiaries (Original Cost: Rs. 370.00 crore; Revised Cost: Rs. 241.36 crore) showed no utilization during the quarter, with the total utilized balance remaining at Rs. 71.70 crore.
For General Corporate Purpose (Revised Cost: Rs. 45.00 crore), the total utilization remained at Rs. 40.18 crore, with no further deployment in Q3 FY2026.
Deployment of Unutilized Proceeds
The unutilized portion of the funds (Rs. 22.24 crore) was largely deployed in interest-bearing instruments as of the quarter end. The total amount invested in Fixed Deposits with the Bank of Maharashtra and held in a Current Account totaled Rs. 22.24 crore, earning a marginal return of 0.27% during the period.
Implementation Status
The Monitoring Agency noted that the implementation for all objects—Investment in Subsidiaries, General Corporate Purpose, and Working Capital—is currently classified as ‘On-going’. No material deviations in the objects or range of deviation were observed compared to previous reports.
Source: BSE
