Artemis Medicare Services Limited — Others, 05-02-2025: Monitoring Agency Report

Artemis Medicare Services has shared the Monitoring Agency Report for the quarter ending December 31, 2024, regarding the utilization of proceeds from its Rs. 330 crore preferential issue of Compulsorily Convertible Debentures. The report reveals no deviations from the proposed use of funds, and no amounts were utilized in the quarter. As of this reporting period, Rs. 322.11 crore remains unutilized, primarily held in fixed deposits offering competitive interest rates. This lack of utilization may raise some concerns among investors about the company's capital allocation strategy. Nevertheless, the operational outlook remains steady as the company continues to plan for future growth and expansion.