Man Infraconstruction Limited has released the Monitoring Agency Report for the quarter ended March 31, 2026. The report details the utilization of proceeds from its preferential issue of convertible warrants. As of the end of the quarter, the company has successfully utilized Rs. 355.508 crore out of the total net proceeds of Rs. 512.641 crore, maintaining alignment with its stated business objectives.
Utilization of Preferential Issue Proceeds
The company raised funds through a preferential issue of 3,50,46,100 warrants at Rs. 155.000 each, resulting in actual net proceeds of Rs. 512.641 crore. As of March 31, 2026, a total of Rs. 355.508 crore has been deployed across various corporate and project-related initiatives, with Rs. 157.134 crore remaining unutilized.
Breakdown of Fund Allocation
The funds were primarily directed toward the following areas during the quarter:
- Expanding EPC and Real Estate: This remains the largest area of investment, with Rs. 214.242 crore utilized to date, including Rs. 119.122 crore spent during this quarter.
- Working Capital: The full allocation of Rs. 125.000 crore for working capital requirements has been completed, with Rs. 14.916 crore deployed in the final quarter.
- General Corporate Purposes: Rs. 16.265 crore has been utilized, primarily covering issue-related expenses and consulting services.
- Fixed Assets: The company has earmarked Rs. 5.000 crore for the purchase of fixed assets, including plant and machinery, which remains unutilized as of the reporting date.
Deployment of Unutilized Funds
The remaining Rs. 157.134 crore is currently held in safe, interest-bearing instruments. The company has invested these funds in fixed deposits across Bank of Baroda and Union Bank, with various maturity dates extending through July 2026. These investments have generated earnings of Rs. 0.893 crore, with returns on investment ranging between 5.99% and 7.15%.
Project Status and Outlook
All projects associated with the utilization of these funds are reported to be on schedule or completed, with completion dates projected for FY2027. No deviations from the original objects of the issue have been observed, and the board has confirmed that the project viability remains stable.
Source: BSE
