Ethos Limited has submitted its Monitoring Agency Report, detailing the utilization of proceeds from its Rights Issue for the quarter ended September 30, 2026. The report, issued by CRISIL Ratings Limited, confirms that proceeds have been utilized for working capital and issue-related expenses, aligning with the disclosures in the Offer Document. The company has allocated funds towards working capital requirements and issue-related expenses, with a significant portion of general corporate purposes remaining unutilized at the quarter’s end.
Ethos Limited Submits Monitoring Agency Report for Rights Issue Proceeds
Ethos Limited has officially released its Monitoring Agency Report concerning the utilization of funds raised through its recent Rights Issue. The report, compiled by CRISIL Ratings Limited, covers the financial quarter ending September 30, 2026. This disclosure provides stakeholders with transparency regarding the deployment of capital raised from the issue, as mandated by regulatory requirements.
Utilization of Rights Issue Proceeds
The report indicates that the proceeds from the Rights Issue have been primarily allocated towards working capital requirements and issue-related expenses. Specifically, an amount of ₹10,396.53 lakh remains unutilized from the funding for working capital, while ₹3.53 lakh is unutilized from issue-related expenses. The total amount utilized for these purposes amounts to ₹20,603.47 lakh and ₹375.49 lakh respectively.
For General Corporate Purposes (GCP), the entire allocated amount of ₹9,611.48 lakh remains unutilized. This is attributed to delays in the execution of planned activities, with the company confirming that these proceeds will be utilized in subsequent quarters as per the Letter of Offer.
Investment of Unutilised Funds
As of September 30, 2026, the unutilized Net Proceeds, amounting to ₹20,011.54 lakh, have been deployed in various investments. These include fixed deposits with HDFC Bank totaling ₹20,011.54 lakh, earning interest and contributing to the market value of the investments. Balances in monitoring accounts with HSBC Bank and HDFC Bank also account for the remaining unutilized funds.
The report highlights that the utilization of proceeds is in line with the disclosures made in the Offer Document. The company has confirmed that all arrangements pertaining to technical assistance and collaboration are in operation, and there are no unfavorable events identified that affect the viability of the stated objectives.
Source: BSE
