Hindustan Foods: Monitoring Agency Report for Preferential Issue

Hindustan Foods Ltd has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, concerning the utilization of proceeds from its preferential issue of 67,39,072 Convertible Warrants. The issue aggregated to Rs. 399.99 crore. CARE Ratings Limited, the appointed Monitoring Agency, reported no deviation from the objects of the issue. The company had previously revised the total cost of objects to Rs. 377.50 crore due to the cancellation of warrants and subsequently reclassified Rs. 50.00 crore between objects. The report confirms that funds utilized in Q2 FY27 align with the specified objects and approved cost revisions. A total of 5,32,009 warrants were cancelled due to non-exercise of conversion options, leading to a reduction in the amount raised by Rs. 22.50 crore.