Oriental Rail Infrastructure Confirms No Deviation in Rs. 212.20 Crore Fund Usage
Oriental Rail Infrastructure Limited submitted formal compliance statement to BSE confirming no deviation in Rs. 212.20 crore preferential issue fund utilization for Q3 FY26. The company utilized Rs. 0.37 crore during the quarter exclusively for general corporate purposes, with cumulative utilization reaching Rs. 170.16 crore and Rs. 42.04 crore remaining unutilized, primarily deployed in fixed deposits earning 4.75% to 7.55% returns.
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Oriental Rail Infrastructure Limited has submitted its formal compliance statement to BSE confirming no deviation or variation in the utilization of proceeds from its preferential allotment of securities worth Rs. 212.20 crore for the quarter ended December 31, 2025. The company also filed its quarterly monitoring agency report prepared by CARE Ratings Limited, providing comprehensive insights into fund deployment and regulatory compliance.
Compliance Statement and Regulatory Filing
The company submitted a statement of deviation/variation under Regulation 32 of SEBI Listing Regulations on February 12, 2026, explicitly confirming no deviation in fund utilization. This formal declaration reinforces the monitoring agency's findings and demonstrates adherence to approved fund deployment objectives.
| Parameter | Details |
|---|---|
| Fund Raising Mode | Preferential Issue |
| Date of Raising Funds | February 22, 2024 |
| Amount Raised | Rs. 212.20 Crore |
| Monitoring Agency | CARE Ratings Limited |
| Deviation Status | No |
Issue Details and Fund Allocation
The preferential issue comprised equity shares and convertible warrants totaling Rs. 212.20 crore. The funds were allocated across three primary objectives as outlined in the offer document.
| Object | Allocated Amount (Rs. Crore) |
|---|---|
| Repayment of Debt/Borrowings | 50.00 |
| Working Capital Requirements | 147.20 |
| General Corporate Purposes | 15.00 |
| Total | 212.20 |
Quarterly Utilization Progress
During the quarter ended December 31, 2025, the company utilized Rs. 0.37 crore exclusively towards general corporate purposes. The cumulative utilization across all objects reached Rs. 170.16 crore, leaving Rs. 42.04 crore unutilized.
| Object | Utilized at Quarter Start (Rs. Crore) | Quarterly Utilization (Rs. Crore) | Total Utilized (Rs. Crore) | Remaining (Rs. Crore) |
|---|---|---|---|---|
| Debt Repayment | 3.78 | 0.00 | 3.78 | 46.22 |
| Working Capital | 159.35 | 0.00 | 159.35 | -12.15 |
| General Corporate | 6.66 | 0.37 | 7.03 | 7.97 |
| Total | 169.79 | 0.37 | 170.16 | 42.04 |
Key Observations and Fund Deployment
The monitoring agency highlighted overutilization in working capital requirements by Rs. 12.15 crore, which remains within the 10% threshold of the total issue size. The quarterly utilization of Rs. 0.37 crore was directed towards income tax payments of Rs. 0.36 crore for outstanding FY19 demands and stamp duty payments of Rs. 0.01 crore for solar panel installations.
| Investment Type | Amount (Rs. Crore) | Return Rate Range |
|---|---|---|
| Fixed Deposits (9 instruments) | 44.59 | 4.75% - 7.55% |
| Current Account Balances | 0.12 | - |
| Total Deployed | 44.71 | - |
Management Confirmation and Regulatory Status
The company's compliance officer confirmed through the formal BSE filing that there has been no deviation in the utilization of issue proceeds from the objects approved by shareholders. The monitoring agency noted delays in implementation across fund utilization objectives but confirmed no material deviations requiring shareholder approval. The company continues to deploy unutilized funds primarily in fixed deposits with Bank of Baroda, earning returns ranging from 4.75% to 7.55%.
Historical Stock Returns for Oriental Rail Infrastructure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.57% | -5.52% | -1.03% | -4.67% | -28.00% | +184.16% |
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