Mercury Ev-Tech Ltd — Important, 15-05-2026: Company Update

Mercury EV-Tech's Monitoring Agency Report for the quarter ended March 31, 2026, details the utilization of its Preferential Issue proceeds. The company received Rs 167.63 Cr out of the Rs 447.94 Cr issue, with Rs 192.31 Cr utilized towards its stated objectives. A significant Rs 254.81 Cr from convertible warrants is yet to be received. The report highlights a risk for warrant holders as the current market price of Rs 31.70 per share is below the Rs 75.00 conversion price, potentially impacting future capital inflow. Unutilized funds of Rs 0.82 Cr are held in bank accounts.