Vertex Securities Limited submitted its Second Monitoring Agency Report for the quarter ended June 30, 2026, pursuant to Regulation 32(6) of SEBI (LODR) Regulations, 2015 and Regulation 41(4) of SEBI (ICDR) Regulations, 2018. The report was prepared by Brickwork Ratings India Private Limited, the appointed monitoring agency.
Issue Details
The company raised funds through a Rights Issue of partly paid-up equity shares with the following parameters:
- Issue Period: March 20, 2026 to March 27, 2026
- Type of Issue: Rights Issue
- Type of Securities: Partly Paid-Up Equity Shares
- Total Issue Size: ₹14.80 crore
- Number of Securities Offered: 74,012,189 shares
- Total Securities Subscribed: 74,012,189 shares
Funds Received and Utilization
As of June 30, 2026, the company had received application money of ₹3.70 crore against the total issue size of ₹14.80 crore, in accordance with the terms of the partly paid-up nature of the shares.
Utilization of Proceeds as of June 30, 2026:
- Issue Related Expenses: Budgeted ₹0.50 crore, utilized ₹0.00 crore during quarter, cumulative utilization ₹0.00 crore, balance ₹0.50 crore
- Augmenting Working Capital Requirements: Budgeted ₹10.65 crore, utilized ₹3.60 crore during quarter, cumulative utilization ₹3.60 crore, balance ₹7.05 crore
- General Corporate Purposes: Budgeted ₹3.65 crore, utilized ₹0.10 crore during quarter, cumulative utilization ₹0.10 crore, balance ₹3.55 crore
Monitoring Findings
The monitoring agency verified the utilization through bank statements, company letters, and CA certificate from Deoki Bijay & Co. Chartered Accountants (FRN: 313105E) dated July 28, 2026.
Key declarations:
- No deviation from the objects disclosed in the Offer Document
- No material deviations requiring shareholder approval
- No change in means of finance for disclosed objects
- No major deviation observed over earlier monitoring reports
- All government/statutory approvals related to objects have been obtained
- No unfavorable events affecting viability of objects
Deployment of Unutilized Proceeds
The unutilized proceeds of ₹11.10 crore were deployed in Axis Bank AA (Vertex Securities Ltd Proprietary Account) - 916020023225499 with ₹0.00 crore invested as of June 30, 2026.
General Corporate Purpose Utilization
₹0.10 crore was utilized for general corporate purposes as of June 30, 2026.
Implementation Status
All objects are ongoing with no delays reported:
- Augmenting Working Capital Requirements: Ongoing
- General Corporate Purposes: Ongoing
- Issue Related Expense: Ongoing