VL E-Governance Monitoring Report: No Deviation in Preferential Issue Proceeds

VL E-Governance & IT Solutions Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by CARE Ratings Limited. The report confirms NIL deviation from the objects for the utilization of proceeds raised through a preferential issue. The preferential issue aimed to raise up to ₹630 crore via share warrants convertible into equity shares at ₹75 each. However, only ₹400.99 crore was subscribed, representing 25% of the issue size, leading to an undersubscription. The report also notes that the Monitoring Agency does not perform audits and relies on information provided by the issuer.