Please find enclosed Monitoring Agency Report for the Quarter ended June 30, 2025
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Afcons Infrastructure has submitted the Crisil Ratings Monitoring Agency Report tracking how it spent the money raised from its October 2024 IPO, which had gross proceeds of Rs 1,250 crore. Net proceeds were revised upward to Rs 1,214.64 crore from Rs 1,206.12 crore because actual issue expenses came in lower (Rs 35.36 crore vs. Rs 43.88 crore), and the Rs 8.52 crore saving was added to the General Corporate Purposes (GCP) bucket. As of June 30, 2025, the company has deployed Rs 1,233.05 crore overall (about 98.6% of gross proceeds). Loan repayment (Rs 600 crore), long-term working capital (Rs 320 crore), and GCP (Rs 214.64 crore) are fully utilized, while Rs 63.12 crore of the Rs 80 crore earmarked for construction equipment has been spent, leaving Rs 16.88 crore unutilized. The remaining Rs 16.95 crore sits in fixed deposits with IndusInd Bank earning 7% interest.
This is a routine compliance filing and there are no red flags — Crisil confirms no deviation from stated IPO objects, no delays, and no major changes from earlier reports. The small unutilized balance (about 1.4% of proceeds) is parked in safe FDs, so shareholders should see this as a neutral-to-slightly-positive sign of disciplined fund deployment.