Role Summary:
quarterly monitoring of utilisation of issue proceeds
The role will involve reviewing the end-use of funds raised through IPOs, FPOs, rights issues, preferential issues and other relevant primary-market instruments, assessing deviations from stated objects of the issue, validating utilisation through financial and banking records, and preparing monitoring reports.
In addition, the candidate will support credit-rating and related analytical assignments, including financial analysis, industry and business assessment, credit-note preparation, management discussions and periodic surveillance.
The ideal candidate should have a strong grounding in accounting, auditing, corporate finance, primary-market resource mobilisation and wholesale-credit appraisal.
Key Responsibilities:
Fund Monitoring Assignments
- Conduct quarterly monitoring of utilisation of proceeds raised through primary-market issuances, in line with applicable SEBI ICDR requirements and the mandate provided by the issuer. And prepare quarterly monitoring reports as per the standard format.
- Review offer documents, including DRHP/RHP, prospectus, letter of offer, placement documents and board/shareholder approvals, to understand the stated objects of the issue and proposed deployment timelines.
- Analyse issue proceeds, including gross proceeds, net proceeds, issue-related expenses, funds earmarked for specific objects, and unutilised balances.
- Verify utilisation of funds against the objects stated in the offer document, and review and reconcile utilisation details with supporting documents.
- Identify, analyse and report delays, diversions, deviations, cost overruns, changes in project scope, inter-corporate transfers or deployment of funds pending utilisation.
- Assess whether unutilised proceeds have been maintained and deployed in accordance with disclosed practices and regulatory requirements.
- Conduct discussions with company management, finance teams, auditors, bankers, project teams and other relevant stakeholders.
- Undertake site visits, where required, to validate physical progress of projects or assets funded from issue proceeds.
- Ensure timely completion and submission of monitoring reports within agreed regulatory and client timelines.
- Maintain complete working papers, document trails, review notes and audit-ready records for each assignment.
Rating and Credit Analysis
This position also entails:
- Undertaking rating assignments in respect of financial instruments, bank loans, and other debt products, and ensuring timely delivery of the same as per the laid down regulatory timelines.
- Independently handle the rating assignments and analyze financial statements, factoring quantitative & qualitative data points, key ratios, and performance to assess the creditworthiness of the company.
- Interacting with company management, auditors, bankers, and other lenders, and visiting companies and factories as part of the regular monitoring and data gathering.
- Taking ownership of the folio by carrying out regular surveillance, monitoring, and reviews every quarter/ material event basis, tracking the performance of the companies concerning macroeconomic changes, and handling internal and external audit queries.
- Strictly adhere to standard operating procedures, regulations & policies.
