Max Estates Limited — Others, 25-10-2024: Monitoring Agency Report

Max Estates Limited reported that the Monitoring Agency, CARE Ratings Ltd, confirmed that there were no deviations in the use of proceeds from its recent Qualified Institutional Placement (QIP) of ₹800 crore for the quarter ended September 30, 2024. The company has utilized ₹53.42 crore, with the remaining funds invested in fixed deposits and mutual funds. The Monitoring Agency found all allocations consistent with the objectives outlined in the placement document. Further details are available on the company's website.