Affle 3i Limited — Others, 11-11-2024: Monitoring Agency Report

Affle (India) Limited has released the Monitoring Agency Report for the quarter ended September 30, 2024, confirming that there has been no deviation in the utilization of proceeds from its recent preferential issue, which raised INR 749.02 Crore. The revised net proceeds are INR 737.43 Crore due to lower-than-expected issue-related expenses. The report reflects a favorable financial position, indicating strategic use of funds for technology development and inorganic growth opportunities, contributing to a positive outlook. Investors may view this as a validation of management's effectiveness in utilizing capital while maintaining robust operational integrity.