News Corporate Actions GHV Infra Projects Submits Q3FY26 Monitoring Report for Convertible Warrants ProceedsGHV Infra Projects Submits Q3FY26 Monitoring Report for Convertible Warrants Proceeds
GHV Infra Projects Limited submitted its Q3FY26 monitoring agency report for convertible warrants proceeds utilization. The company raised INR 154.00 crores through preferential issue from August 18-21, 2025, and utilized INR 38.50 crores for working capital from application money. Acuité Ratings found no deviations from stated objects, with no additional warrant subscriptions received during Q3FY26.
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GHV Infra Projects Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, regarding the utilization of proceeds from its preferential issue of convertible warrants. The report was prepared by Acuité Ratings and Research Limited in compliance with Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Issue Details and Fund Utilization
The company conducted its preferential issue of convertible warrants from August 18, 2025 to August 21, 2025, raising a total of INR 154.00 crores. The proceeds were allocated across four specific objects as outlined in the offer document.
| Object | Allocated Amount (INR Crores) | Utilized Amount (INR Crores) |
|---|---|---|
| Working Capital Requirements | 85.00 | 38.50 |
| Site Infrastructure and Equipment | 19.00 | - |
| Business Expansion Operations | 15.00 | - |
| General Corporate Purposes | 35.00 | - |
| Total | 154.00 | 38.50 |
Monitoring Agency Assessment
Acuité Ratings and Research Limited, serving as the monitoring agency, conducted a comprehensive review of the fund utilization. The assessment covered nine key parameters to ensure compliance with regulatory requirements and offer document disclosures.
| Assessment Parameter | Company Response | Monitoring Agency Comments |
|---|---|---|
| Utilization as per Offer Document | Yes | Utilizations are as per company disclosures |
| Material Deviations | Not Applicable | No material deviation observed |
| Change in Means of Finance | No | No change observed |
| Government Approvals | Yes | No statutory approval required for objects |
| Unfavorable Events | No | No unfavorable events affecting viability |
Fund Deployment Status
During Q3FY26, the company did not receive any additional warrant subscriptions. The INR 38.50 crores utilized towards working capital requirements was deployed from the application money received during the initial preferential issue in August 2025. The remaining objects - site infrastructure facilities, business expansion operations, and general corporate purposes - saw no fund deployment during the quarter.
Compliance and Regulatory Adherence
The monitoring agency confirmed that all utilizations were in accordance with the disclosures made in the offer document. No deviations were observed from the stated objects, and the company maintained compliance with all regulatory requirements. The report noted that no government or statutory approvals were required for the specified objects, and no unfavorable events were identified that could affect the viability of the planned investments.
Company Background
GHV Infra Projects Limited operates in the civil construction sector and is promoted by Mr. Vijapura Jahidmohmed H, Ms. Husena Akbarali Musamji, and JHV Commercials LLP. The company's monitoring report and related information are available on its website at www.ghvinfra.com for investor reference.
