Faalcon Concepts Limited has appointed Brickwork Ratings India Private Limited as its monitoring agency for a capital raising exercise. This agreement, effective from November 3, 2026, outlines the roles and responsibilities of both parties in monitoring the utilization of Gross Proceeds from an upcoming issue. Brickwork Ratings will provide quarterly reports on the fund’s deployment as per SEBI regulations.
Faalcon Concepts Appoints Monitoring Agency
Faalcon Concepts Limited has entered into a Monitoring Agency Agreement with Brickwork Ratings India Private Limited. The agreement, effective from November 3, 2026, designates Brickwork Ratings as the monitoring agency responsible for overseeing the utilization of Gross Proceeds from an upcoming issue by Faalcon Concepts Limited.
Scope of Agreement
The core objective of this engagement is to ensure that the funds raised by Faalcon Concepts Limited are utilized strictly in accordance with the Objects of the Issue, as detailed in the company’s Offer Document. Brickwork Ratings will be tasked with reviewing financial information, including bank statements, and assessing the progress of activities funded by the Gross Proceeds. They will be required to submit monitoring reports on a quarterly basis, adhering to the format prescribed under SEBI ICDR Regulations.
Key Responsibilities
The agreement stipulates that Faalcon Concepts Limited will establish an Issue Monitoring Account where Gross Proceeds will be deposited. The company is obligated to provide all necessary documentation and information to Brickwork Ratings for effective monitoring. Brickwork Ratings, in turn, will review this information, conduct necessary checks, and provide reports to Faalcon Concepts Limited and potentially other regulatory bodies as required. The agency’s role is to provide an independent third-party opinion on the utilization of funds.
Term and Termination
The agreement is set to remain in force until 100% of the Gross Proceeds are utilized, as confirmed by BWR’s final report, or until terminated as per the agreement’s provisions. Termination can occur with 30 days’ prior written notice, provided the reason is prescribed by SEBI or relevant regulations, and will be effective after the notice period or the next monitoring report publication, whichever is later.
Source: BSE
