Belrise Industries informed the exchange regarding Submission of Monitoring Agency Report for the quarter ended June 30, 2025 pursuant to Regulation 32(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
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Belrise Industries has filed the Monitoring Agency Report from Crisil Ratings for the quarter ended June 30, 2025, tracking how the company used its Rs 2,150 crore IPO proceeds raised in May 2025. During the quarter, the company fully repaid outstanding borrowings of Rs 1,596.02 crore, and since the actual repayment was Rs 22.11 crore lower than originally planned, that excess was reallocated to General Corporate Purposes (now revised up to Rs 432.59 crore from Rs 410.49 crore). Issue expenses of Rs 26.20 crore were also paid, while Rs 94.87 crore of issue expenses remain pending. Total utilization in the quarter stood at Rs 1,801.18 crore, leaving Rs 348.82 crore unutilized, which has been parked in fixed deposits with PNB and Catholic Syrian Bank (earning ~6.75–6.80%) and in ICICI Bank monitoring/public issue accounts. Out of the GCP amount, Rs 141.24 crore was used for working capital (raw materials like steel tubes, wires, coils, paints) and Rs 37.72 crore for maintenance of plant and machinery.
This is a routine compliance filing showing IPO funds are being used as disclosed, with no deviations or delays. Shareholders can take comfort that borrowings have been fully repaid and idle funds are earning interest, while the GCP reallocation was within the flexibility permitted in the prospectus. No material impact on stock price is expected from this disclosure.