Avantel Limited — Others, 25-07-2025: Monitoring Agency Report

Avantel Limited has submitted a monitoring report confirming the appropriate utilization of funds raised through its Rights Issue totaling Rs. 80.91 Cr. The report indicates no deviation from the disclosed objectives. Of the raised capital, Rs. 5.60 Cr was utilized for the new manufacturing facility, and Rs. 19.94 Cr was fully deployed for general corporate purposes, including working capital reduction and other operational expenses. Additionally, Rs. 0.95 Cr covered issue-related expenses. Approximately Rs. 54.42 Cr from the Rights Issue remains unutilized, held in a monitoring account. Projects for the new facility and GSaaS infrastructure are currently ongoing.