Raymond Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, concerning its preferential issue of convertible warrants. The report, prepared by CARE Ratings Limited, confirms that the utilization of proceeds is in line with the objects stated in the offer document, with a portion allocated to fixed deposits and mutual funds.
Monitoring Agency Report Submitted
Raymond Limited has officially submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report pertains to the preferential issue of convertible share warrants, which were allotted on July 09, 2026.
Report Findings
The report was prepared by CARE Ratings Limited, acting as the Monitoring Agency. As of September 30, 2026, the company had not fully utilized the upfront warrant proceeds of ₹82.72 crore towards the stated objects of the preferential issue. A significant portion, ₹80.00 crore, was parked in fixed deposits, while ₹2.72 crore was invested in mutual funds.
Adherence to Regulations
The submission is in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Utilization Details
The report details the utilization of proceeds. For the object of ‘Acquisitions in India and internationally (Aerospace, Automotive, Defence, high growth future oriented sector)’, an amount of ₹248.16 crore was originally proposed. For ‘General corporate purposes, including transaction costs’, ₹82.72 crore was proposed. As of Q2FY27, no utilization was recorded for these objects.
Unutilized Proceeds Deployment
The unutilized proceeds of ₹82.72 crore have been deployed as follows: ₹80.00 crore in Fixed Deposits with a maturity date of 13/07/2027 earning 7.25% p.a., and ₹2.72 crore invested in Mutual Funds, with a market value of ₹2.75 at the end of the quarter.
Implementation Status
Regarding the implementation of objects, the ‘Acquisitions’ object had a planned completion date within 18 months from the allotment of warrants, by January 09, 2028. As of Q2FY27, there was no utilization for this object, and no delay was reported. Similarly, ‘General corporate purposes’ are to be utilized as required, with no utilization reported for Q2FY27 and no delay indicated.
Source: BSE
