Spark Minda has released a monitoring agency report regarding the utilization of proceeds from the issuance of share warrants on a preferential basis. The report, which covers the quarter ended September 30, 2025, confirms that the proceeds are being utilized as per the disclosures in the offer document and there were no material deviations observed. Out of the total INR 420.75 crores, the company received INR 105.19 crore.
Share Warrant Proceeds Monitoring
Spark Minda has issued a report concerning the utilization of funds raised through share warrants on a preferential basis. The report covers the period ending September 30, 2025 (Q2 FY2025-26) and was prepared by Acuité Ratings & Research Limited, the monitoring agency.
Key Report Findings
The report states that there were no deviations from the originally stated objectives for which the funds were raised. Utilizations align with the disclosures made in the offer document.
As of the end of the quarter, the company had received INR 105.19 crores out of a total issue size of INR 420.75 crores. The means of finance for the disclosed objects of the issue has not changed.
Fund Utilization Details
The received amount (INR 105.19 crore) has been earmarked for debt repayment. There have been no changes observed by the Monitoring Agency with respect to the original plan.
Source: BSE
