Apollo Ingredients' Right Issue Committee has approved the appointment of a Monitoring Agency, a SEBI-registered Credit Rating Agency, to oversee the utilization of funds raised through the ongoing Rights Issue.

A key decision is that no proceeds from the Rights Issue will be used until this agency is formally in place.

The Monitoring Agency will provide regular reports on fund deployment, which will also be reviewed by the company's Audit Committee and Board.

This measure aims to ensure transparent and controlled use of the capital, offering greater assurance to shareholders regarding fund management.