Minda Corporation Limited has released its Monitoring Agency Report for the utilization of proceeds from its preferential issue of Share Warrants for the quarter ended June 30, 2026. The report, issued by Acuité Ratings and Research Limited, confirms that the utilization of funds aligns with the stated objects of the issue, with no material deviations observed. The total issue size was ₹420.75 crore.
Monitoring Agency Report Filed
Minda Corporation Limited has submitted its Monitoring Agency Report for the quarter ending June 30, 2026. This report details the utilization of funds raised through the issuance of Share Warrants on a preferential basis. The monitoring was conducted by Acuité Ratings and Research Limited, as mandated by the company’s listing obligations.
Fund Utilization Details
The report indicates that the utilization of proceeds is in line with the disclosures made in the Offer Document. Specifically, for the Debt Repayment item head, the original cost was ₹420.75 crore. The amount raised was ₹105.19 crore, representing 25% of the warrant issue price per warrant up to June 2025, which was fully utilized for the stated object during the quarter. There were no material deviations from the disclosed objects of the issue and no significant changes in the means of finance were noted. No government or statutory approvals were required for the objects of the issue.
No Material Deviations Identified
According to the Monitoring Agency, no deviation from the objects of the issue has been observed. The report also highlights that no material other facts were found that could affect the decision-making of investors. The company confirmed that all necessary arrangements pertaining to technical assistance or collaboration were either not required or not applicable to the specific use of funds. No favorable or unfavorable events impacting the viability of the objects were identified.
Reported by Monitoring Agency
The report was digitally signed by Vikas Mishra, Deputy Vice President – Process Excellence at Acuité Ratings and Research Limited, on August 12, 2026. Minda Corporation Limited confirmed that the information will also be made available on their website, www.sparkminda.com.
Source: BSE
