Senior Analyst (Fund Monitoring and Rating Assignments)

Role Summary:

We are seeking a detail-oriented finance professional to undertake quarterly monitoring of utilisation of issue proceeds raised by companies through the primary capital market, in accordance with applicable SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time. 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.