Last Mile Enterprises Ltd — Updates, 16-05-2025: Company Update

Last Mile Enterprises Limited has announced a Monitoring Agency Report from CARE Ratings for the quarter ended March 31, 2025, concerning the utilization of Rs.280.32 Cr raised via preferential equity shares and warrants. The company has utilized the raised funds largely as per stated objectives, including investments in NCDs/loans to NBFCs, subsidiaries, real estate business, working capital, and strategic acquisitions. Some delays occurred in completing certain objectives due to pending warrant proceeds, but management expects to deploy funds once received. Promoter shareholding declined to 27.03% from 47.31%, mainly owing to warrant conversions to non-promoters. Current share price remains significantly below warrant exercise price. There is no major deviation in fund use, but some funds were managed through different bank accounts, supported by management and auditor certifications. Issue expenses of Rs.11.76 Cr have largely been incurred with no further planned spend.