HealthCare Global Enterprises Limited announced the launch of its new comprehensive cancer hospital in Hebbal, North Bengaluru. The facility, with a capacity of up to 132 beds, strengthens access to advanced oncology care in the region. The project represents an investment of approximately INR 129 Crores, financed through a mix of debt and internal accruals.

Advanced Technology and Infrastructure

The new hospital introduces Karnataka's first Elekta Unity MR-Linac, one of the world's most advanced precision radiation therapy platforms. This technology combines high-quality MRI imaging with a linear accelerator to enable highly precise, adaptive cancer treatment. The facility is designed as a full-spectrum oncology centre, bringing together diagnosis, treatment, and recovery support under one roof.

Key Facility Details

The following table summarises the key infrastructure and financial details of the new facility:

Strategic Rationale

The establishment of the hospital addresses the long-standing need for a dedicated and comprehensive cancer care facility in North Bengaluru. Previously, patients often had to commute across Bengaluru city for treatment. The new facility in Byatarayanapura bridges this gap by providing personalised and patient-focused cancer care close to home, supported by advanced technology and clinical expertise.

CARE Ratings Limited has submitted its first Monitoring Agency (MA) report for the quarter ended March 31, 2026, pertaining to the Rights Issue of HealthCare Global Enterprises Limited. The report, issued under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 82 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, confirms nil utilisation of the Rights Issue proceeds during the quarter. The Rights Issue, which was open from March 11, 2026 to March 25, 2026, raised an aggregate amount of Rs. 424.68 crores through equity shares.

Rights Issue Overview

The Rights Issue was conducted by HealthCare Global Enterprises Limited, a company operating in the Hospital & Healthcare Services sector. The promoters of the company include Dr. B. S. Ajalkumar, Hector Asia Holdings II Pte Ltd, and Catalyst Trusteeship Limited. The following table summarises the key details of the issue:

Objects of the Issue and Utilisation Status

The Rights Issue proceeds were earmarked across four distinct objects as disclosed in the Offer Document. As of the quarter ended March 31, 2026, nil utilisation was recorded across all objects. The table below presents the cost allocation and utilisation status for each object:

All four objects are recorded as ongoing with no delays, and their completion is targeted for Fiscal 2027, except for issue-related expenses for which no specific completion date was provided in the Offer Document.

Deployment of Unutilised Proceeds

The entire unutilised Rights Issue proceeds as at the end of Q4FY26 were held in Axis Bank accounts. The deployment details are as follows:

A note accompanying the report states that an amount of ₹4,096, which was initially held up due to an issue in the HDFC account of a customer and therefore not received until March 31, 2026, was subsequently realized on April 9, 2026 following resolution of the discrepancy and was thereafter transferred to the Monitoring Account on April 15, 2026.

Key Findings and Compliance Status

The Monitoring Agency report highlights the following key findings for Q4FY26:

• Deviation from objects: Nil
• Range of deviation: Not Applicable
• Shareholder approval for material deviations: Not Applicable
• Change in means of finance: No
• Major deviation from earlier monitoring reports: Not Applicable (this is the first monitoring agency report)
• Government/statutory approvals: Not Applicable
• Favorable/unfavorable events affecting viability: No
• Other material information affecting investor decisions: No

The General Corporate Purposes (GCP) component, amounting to Rs. 95.57 crore, also recorded nil utilisation for the quarter ended March 31, 2026. As stated in the Offer Document, the company intends to deploy the balance net proceeds aggregating to ₹9,556.87 lakhs towards general corporate purposes, subject to the condition that the amount utilised for this purpose shall not exceed 25% of the Gross Proceeds.

Monitoring Agency and Certification

The report was prepared by CARE Ratings Limited and signed by Sahil Goyal, Assistant Director, in the capacity of Monitoring Agency. The report is based on a CA Certificate dated April 22, 2026 from Esha Prasanna & Co., along with Management Certificates and Management Undertakings provided by the issuer. The MA has confirmed that there is no conflict of interest in its relationship with HealthCare Global Enterprises Limited while monitoring and reporting the utilisation of the issue proceeds. The report has been made available on the company's website and submitted to both the National Stock Exchange of India Limited and BSE Limited.