Key Details
Proposed QIP Details
- Issue Size: ₹4,950 lakhs (₹49.5 crore)
- The company has proposed a Qualified Institutions Placement
Monitoring Agency Appointment
- Monitoring Agency Appointed: Infomerics Valuation and Rating Limited
- Appointment Basis: Voluntary (not mandatory under SEBI regulations)
- Regulatory Reference: Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
Rationale for Voluntary Appointment
- To ensure independent monitoring mechanism for utilization of Net Proceeds of the Issue
- To enhance transparency in the utilization of funds
- To provide additional level of oversight and transparency
Monitoring Scope
- The Monitoring Agency will monitor utilization of Net Proceeds of the Issue
- Monitoring will be conducted in accordance with applicable provisions of SEBI ICDR Regulations and other applicable laws, regulations and guidelines
Financial Impact
Financial impact not quantified in the disclosure. The monitoring relates to future utilization of funds from the proposed QIP.