Last Mile Enterprises delays fund deployment from Rs280cr issue

Last Mile Enterprises Limited has delayed implementing four out of seven objectives from its Rs280.32 crore preferential issue, according to a monitoring report by CARE Ratings Limited.

The company utilized Rs234.35 crore of raised funds as of Q4FY25, with no further utilization in Q1FY26. The current share price of Rs15.16 is significantly below the warrant exercise price of Rs45, creating uncertainty over warrant convertibility.

Last Mile Enterprises attributed delays to not receiving majority funds from warrant holders, forcing it to use other company sources to finance objectives.