Mercury Ev-Tech Ltd — Updates, 14-08-2025: Company Update

Mercury EV-Tech Limited's monitoring report from Crisil Ratings details the utilization of its preferential issue proceeds. During the quarter, the company used Rs 20.30 Cr for working capital, capital expenditure, and general corporate purposes, including an investment in a subsidiary for plant and machinery. The revised issue size is Rs 447.94 Cr. A significant Rs 254.81 Cr from convertible warrants is yet to be received, expected within 18 months as holders convert. The report confirms no deviation from the stated use of funds, aligning with company growth plans.