Ind-Swift Laboratories Limited — Others, 15-05-2025: Monitoring Agency Report

Ind-Swift Laboratories Ltd has announced a Monitoring Agency Report confirming that proceeds from its Rs. 314.60 Cr preferential issue were used as planned, funding business expansion, working capital, and repayment of an overdraft facility. Fund transfers between accounts aimed at operational efficiency are fully documented. Approximately Rs. 91.11 Cr remains unutilized as project costs are still being finalized. Operations were minimal during 9M FY25 following the sale of its APIs and CRAMS business, while a merger with group company Ind-Swift Limited (formulations) is in progress. Current share prices below the warrant exercise price may impact warrant conversions.