Avantel Limited (AVANTEL) — Corporate Action

📢 Key Event
CARE Ratings validated full compliance of Rs. 80.91 crore rights issue proceeds utilization

🔄 What Changed
Board reviewed Monitoring Agency Report on July 11, 2026; minor timeline adjustments noted for utilization but no material deviations

🔮 What's Next
Unutilized proceeds will be carried forward to FY2026-27 for utilization as determined by the Board

💡 Investor Takeaway
Shareholders can view strict regulatory oversight ensuring funds were used exclusively for approved capital and corporate purposes with no deviations

Avantel Limited disclosed that CARE Ratings confirmed no deviation in the utilization of Rs. 80.91 crore raised through its May 2025 rights issue, with proceeds fully deployed for capital expenditure and general corporate purposes as per the offer document. The Board reviewed the Monitoring Agency Report on July 11, 2026, noting minor timeline adjustments for utilization but maintaining compliance with SEBI regulations. The company emphasized strict adherence to the original purpose of funds, with no material deviations reported across all tracked objects.

📄 View Original Announcement (PDF)

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