Max Estates Limited — Others, 15-05-2025: Monitoring Agency Report

Max Estates has announced a Monitoring Agency Report on the use of funds from its Rs. 800 Cr QIP and Rs. 150 Cr Preferential Issue of convertible warrants. QIP proceeds were mainly deployed for land acquisition from Noida Authority (Rs. 328.44 Cr), corporate expenses including taxes and loans to subsidiaries (Rs. 126.17 Cr), and issue costs (Rs. 20.35 Cr). Approximately Rs. 325 Cr remains parked in fixed deposits and mutual funds. Preferential Issue funds, mostly unutilized at Rs. 37.5 Cr, are invested in liquid mutual funds with minimal use for sitting fees. Fund utilization aligns with the planned objectives without delays or deviations.