Indo Thai Securities Limited's Board of Directors convened their 378th meeting on February 12, 2026, to review the monitoring agency report for the quarter ended December 31, 2025. The meeting, held at the company's registered office in Indore, addressed the utilization of proceeds from the company's preferential issue under SEBI regulations.

Monitoring Agency Assessment

CARE Ratings Limited, serving as the monitoring agency, submitted a comprehensive report confirming no deviations from the stated objects of the preferential issue. The monitoring agency evaluated the company's fund utilization against the original disclosure requirements and found complete compliance with regulatory guidelines.

Preferential Issue Details

The company's preferential issue was structured to raise Rs. 120.20 crore through equity shares and convertible warrants. However, due to the cancellation of one allottee, the final issue size was reduced to Rs. 118.20 crore.

Fund Utilization Progress

During Q3FY26, Indo Thai Securities utilized Rs. 10.33 crore of the issue proceeds. The company received Rs. 13.21 crore during the quarter, of which Rs. 10.33 crore was deployed for the stated objects, leaving Rs. 2.88 crore unutilized from the quarter's receipts.

Deployment of Unutilized Proceeds

The company has strategically deployed the unutilized funds of Rs. 5.26 crore across liquid investments and bank accounts. The deployment includes Rs. 4.50 crore in liquid mutual funds generating returns between 6.35% and 6.54%, with the remaining amount maintained in monitoring and allotment accounts.

General Corporate Purpose Utilization

The company utilized Rs. 2.92 crore for general corporate purposes during Q3FY26, covering various operational expenses including tax payments, commission payments, and administrative costs. The largest component was income tax and TDS payments amounting to Rs. 2.10 crore.

Regulatory Compliance

The monitoring agency confirmed that all fund utilization aligned with the original offer document disclosures. No shareholder approval was required as there were no material deviations from the stated objects. The company maintains its completion timeline of July 14, 2026, which is 18 months from the initial allotment date.

Indo Thai Securities Limited has entered into a significant loan agreement with Yash Technologies Private Limited, as disclosed to stock exchanges under SEBI Regulation 30 on 28th January, 2026. The inter-corporate loan arrangement involves a substantial financial commitment between the two entities.

Loan Agreement Details

The comprehensive loan agreement encompasses several key parameters that define the financial arrangement between the parties:

The interest payment structure requires the borrower to pay the interest along with the principal amount upon maturity. However, the agreement includes flexibility provisions allowing the tenure to be extended or reduced prior to the maturity date through mutual written consent of both parties.

Related Party Transaction Disclosure

The loan agreement has been classified as a related party transaction due to the existing relationship between the entities. An Independent Director of Indo Thai Securities Limited currently serves as the Chief Financial Officer of Yash Technologies Private Limited, creating the related party connection.

Despite this relationship, the company has confirmed that the transaction has been conducted on an arm's length basis, ensuring fair commercial terms. The parties do not hold any shareholding in each other's entities, and there is no direct relationship with promoter or promoter group companies.

Regulatory Compliance

The disclosure has been made in compliance with Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company has provided comprehensive details of the loan agreement to both BSE Limited and National Stock Exchange of India Limited.

As of the date of disclosure, the amount of loan outstanding stands at nil, indicating that the loan disbursement is yet to commence. The agreement represents a strategic financial arrangement that will provide Indo Thai Securities with additional liquidity for its business operations over the specified four-month period.