Vakrangee Limited — Others, 13-05-2025: Monitoring Agency Report

Vakrangee Limited has announced a CARE Ratings monitoring report confirming that Rs.162 Cr from the preferential issue has been effectively utilized as planned. By March 2025, Rs.88.94 Cr was received and Rs.88.84 Cr spent on business expansion, loan repayment, strategic investments, and corporate needs, with negligible unutilized funds. There were no significant delays or deviations. The company faced key leadership changes with the passing of promoter-chairman Dinesh Nandwana and the CEO’s resignation, but management transition to the next generation aims to keep strategic momentum. Share price volatility followed the preferential issue announcement.