AGS Transact Technologies Limited — Others, 20-05-2025: Monitoring Agency Report

AGS Transact Technologies Limited has announced a Monitoring Agency Report by Crisil Ratings on the use of proceeds from its preferential issue of convertible warrants. The company raised Rs 159.36 Cr (down from Rs 199.99 Cr) due to under-subscription, with Rs 73.42 Cr received till March 2025. Funds were used mainly for working capital (Rs 57.3 Cr) and loan repayment (Rs 16.1 Cr); no amount was spent on general corporate purposes. The report highlighted a credit rating downgrade to ‘Default’ in February 2025 after delayed debt servicing and noted a significant stock price drop below the warrant price, which could impact future fund-raising and project completion.