Ganesha Ecosphere Limited — Others, 15-05-2025: Monitoring Agency Report

Ganesha Ecosphere Limited has announced Monitoring Agency Reports by ICRA Limited on the use of proceeds from its Preferential Issue and QIP. The company raised INR 149.97 Cr through warrants and INR 349.99 Cr via QIP, with net proceeds of INR 46.04 Cr and INR 339.74 Cr respectively reviewed for the quarter. Funds have been deployed as planned, mainly for capex on manufacturing, debt repayment, and corporate purposes. Minimal unutilized funds are held in bank accounts, with project execution and repayments progressing on schedule.