Pursuant to Regulation 32(6) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 we enclose herewith Monitoring Agency Report issued by ICRA Limited, Monitoring Agency, for Quarter and Year ended March 31, 2026, in respect of utilization of proceeds of the Initial Public Offer ( IPO ) of the Company. The said report was reviewed by the Audit Committee in its meeting held on 06th May, 2026.
CEIGALL · price
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Ceigall India Limited has submitted its quarterly and annual monitoring agency report for IPO proceeds utilization. The IPO raised Rs. 652.308 crore in net proceeds (excluding OFS). ICRA Limited, the monitoring agency, confirms no material deviation in utilization - all funds are being used as per the disclosed objects. A minor reallocation of Rs. 0.158 crore from the borrowings repayment object to General Corporate Purposes (GCP) was made. All major objects - equipment purchase (Rs. 99.789 crore), debt repayment for company (Rs. 384.480 crore) and subsidiary (Rs. 28.762 crore), and GCP (Rs. 139.277 crore) - have been fully utilized on schedule. Issue-related expenses utilized were Rs. 31.276 crore out of Rs. 31.944 crore budgeted. The GCP funds were deployed into multiple SPVs for HAM infrastructure projects.
Positive signal for investors - IPO funds are being deployed as intended with no material deviations or delays. The minor fund reallocation and full utilization indicate proper fund management. All projects are on schedule.