Mercury Ev-Tech Ltd — Important, 13-02-2026: Company Update

Mercury EV-Tech's Monitoring Agency Report details the utilization of its Rs 447.94 crore Preferential Issue proceeds. As of the quarter ended December 31, 2025, Rs 192.31 crore has been utilized for purposes including promoter loan conversion, working capital, loan repayment, capital expenditure, and general corporate needs. No new funds were utilized during this specific quarter, with Rs 0.82 crore of existing unutilized proceeds held in fixed deposits and current accounts. A substantial Rs 254.81 crore is yet to be received from warrant holders. Investors should note the potential risk of non-conversion, as the warrant issue price of Rs 75.00 is significantly above the current market price of Rs 38.59.