NTL has yet to utilize Rs 118.50 crore raised through a private placement of warrants, according to a recent monitoring agency report. The original warrant issue size was reduced from Rs 500.01 crore to Rs 474.01 crore, impacting the allocation for General Corporate Purposes. The unutilized funds are currently invested in Kotak Liquid Fund (Rs 58.50 crore), ICICI Prudential Liquid Fund (Rs 60.00 crore), and a Standard Chartered Bank monitoring account. The company anticipates receiving an additional Rs 355.51 crore within 18 months, which is crucial for planned expansion and growth initiatives. The monitoring agency noted the lack of fund deployment and highlighted the reliance on future funding, alongside potential conflicts of interest, while providing limited assurance on the report's findings.
