Noble Polymers Limited submitted its first Monitoring Agency Report to BSE Limited for the quarter ended September 30, 2026, pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 162A(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The report was prepared by Brickwork Ratings India Private Limited, the Monitoring Agency appointed by the company under a Monitoring Agency Agreement dated July 03, 2026. The report covers the utilization of proceeds from the preferential issue of 22,76,400 equity shares and 2,34,75,735 warrants convertible into equity shares, which were allotted on August 07, 2026.

Key Financial Details

  • Total Issue Size: ₹12.87 crore
  • Amount Raised as of September 30, 2026: ₹8.89 crore
  • Equity shares portion: ₹1.13 crore (22,76,400 shares at ₹5 per share)
  • Warrants portion: ₹7.76 crore (66.15% of total warrant issue price of ₹11.73 crore)
  • Balance Receivable: ₹3.97 crore upon exercise of warrants
  • Warrant Conversion Terms: Each warrant convertible into one equity share within 18 months from allotment date

Fund Utilization

  • Working Capital Requirements: ₹8.90 crore utilized against proposed ₹10.17 crore
  • General Corporate Purposes: ₹0.00 utilized against proposed ₹2.70 crore
  • Total Utilized: ₹8.90 crore
  • Unutilized Amount: ₹3.97 crore (balance from warrants yet to be exercised)

Monitoring Findings

The Monitoring Agency confirmed:

  • No deviation from the objects of the issue
  • No material deviations in expenditure from the Offer Document
  • No change in means of finance for disclosed objects
  • All government/statutory approvals related to objects have been obtained
  • No favorable or unfavorable events affecting viability of objects

Verification and Review

The utilization details were verified by R.B. Gohil & Co. Chartered Accountants (FRN No. 119360W) through a CA Certificate dated November 12, 2026 and company statement dated November 13, 2026. The Audit Committee of the company reviewed the report at its meeting held on November 13, 2026 and observed no deviation or variation.

Additional Information

The report has been made available on the company's website at www.noblepolymers.in. The promoters of the company are Mr. Hiren Rambhai Odedra and Mr. Mahesh Alabhai Odedra.