Monitoring Agency Report

AS 9100D ISO 9001:2015 AVL/SE/2026-27 July 11, 2026 To To The Corporate Relations Department The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai – 400 001, India. Bandra (East), Mumbai – 400 051, India. Scrip Code: 532406 Symbol: AVANTEL Dear Sir/Madam, Sub: Submission of Monitoring Agency Report for the quarter ended June 30, 2026 – Reg. Ref: ISIN: INE005B01027 Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report for the quarter ended June 30, 2026, issued by CARE Ratings Limited, the Monitoring Agency appointed in respect of the Rights Issue of equity shares of the Company made pursuant to the Letter of Offer dated May 5, 2025. The Monitoring Agency has confirmed that the proceeds of the Rights Issue have been utilized for the purposes stated in the Letter of Offer and that there is no deviation or variation in the utilization of the said proceeds. The aforesaid report has also been reviewed and taken on record by the Audit Committee and the Board of Directors of the Company at their respective meetings held on July 11, 2026. This is for your information and necessary record. Thanking you. Yours faithfully, For Avantel Limited D Rajasekhara Reddy Company Secretary & Compliance Officer Avantel Limited CIN - L72200AP1990PLC011334 Corporate office: Registered Office & Unit-1 Unit-2 Survey No. 17, Unit No. 201 & 202, 2nd Floor, Plot No.47/P, APIIC Industrial Park, Plot No. S-119 (M), Sy. No. 49, Block - 1, Vasavi’s Shalom Sky City, Gambheeram (V), Anandapuram (M), E-City, Raviryal (V), Maheswaram (M), Gachibowli, Serilingampally (M), Ranga Reddy (D), Visakhapatnam - 531 163, Andhra Pradesh. Ranga Reddy (Dt), Hyderabad - 500032, Telangana. Tel : +91-891-2850000 Hyderabad - 501510, Telangana. Tel : +91-40-6630 5000, Fax : +91-40-6630 5004 Fax : +91-891-2850004 Tel: +91-40-3537 1900 marketing@avantel.in www.avantel.in Fax: +91-40-3537 1904 No. CARE/HRO/GEN/2026-27/1012 The Board of Directors Avantel Limited Survey No. 17, Unit No.201 & 202, 2nd Floor, Block - 1, Vasavi’s Shalom Sky City, Gachibowli, Serilingampally (M), Ranga Reddy (D), Hyderabad - 500032, Telangana, India July 11, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Rights of Avantel Limited (“the Company”) We write in our capacity of Monitoring Agency for the Rights Issue for the amount aggregating to Rs. 80.91 crore of the Company and refer to our duties cast under 82 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended 30/06/2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated 02/05/2025. Request you to kindly take the same on records. Thanking you, Yours faithfully, Y Tejeshwar Reddy Associate Director tejeshwar.reddy@careedge.in CARE Ratings Limited 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, Hyderabad - 500 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off 029 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-40-6793 7400 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: Avantel Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Not Applicable as there is no deviation in the amounts specified towards the objects. Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Y. Tejeshwar Reddy Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, Hyderabad - 500 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off 029 Eastern Express Highway, Sion (East), Mumbai - 400 022 Phone: +91-40-6793 7400 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 1) Issuer Details: Name of the issuer : Avantel Limited Name of the promoter : Dr. Abburi Vidyasagar, Mr. Abburi Sarada and Mr. Abburi Siddhartha Sagar Industry/sector to which it belongs : Capital goods - Aerospace & defense 2) Issue Details Issue Period : 15/05/2025 to 28/05/2025 Type of issue (public/rights) : Rights issue Type of specified securities : Equity shares IPO Grading, if any : NA Issue size (in crore) : Rs. 80.91 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications considered by Comments of the Comments of the Particulars Reply Monitoring Agency for Monitoring Agency Board of Directors preparation of report Proceeds from the Rights Issue have been utilized for the objectives mentioned in the Letter of Offer. However, there is a deviation from the originally envisaged timelines for utilization of the proceeds towards Objects 1 and 2. The Whether all utilization is as per the disclosures in the Offer CA certificate*, Management matter was placed before the Board on April 26, 2026, No No comments received Document? Certificate, Bank statements which took note that the unutilized proceeds would be carried forward and utilized during FY2026–27, as permitted under the Letter of Offer, which provides flexibility for such carry forward as may be determined by the Board. Whether shareholder approval has been obtained in case of CA certificate* and material deviations# from expenditures disclosed in the Not applicable No material deviations No comments received Management certificate Offer Document? Whether the means of finance for the disclosed objects of No CA certif [Showing first 8,000 characters — download PDF for full document]