Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (\SEBI\) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (\Listing Regulations\) read with Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, We are submitting herewith the monitoring agency report on the utilization of proceeds from the funds raised through the preferential issue of equity shares, dated 15th May, 2025, issued by Care Ratings Limited, the designated Monitoring Agency, for the quarter ended 31st March, 2025.