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 the Quarter ended June 30, 2025, in respect of utilization of proceeds of the Initial Public Offer ( IPO ) of the Company
CEIGALL · price
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Awaiting price reaction for this filing.
Ceigall India has submitted the quarterly Monitoring Agency Report issued by ICRA Limited, covering the use of proceeds from its Initial Public Offer. The company raised a total of ₹6,523.08 million (approx. ₹652.3 crore) through the IPO. The proceeds were earmarked across four objectives: purchase of equipment (₹997.89 million), repayment/prepayment of company borrowings, repayment/prepayment of subsidiary borrowings (₹288.27 million allocated, ₹287.62 million utilized), and general corporate purposes (₹1,391.19 million allocated, ₹1,392.77 million utilized). ICRA has reported that there is no deviation or variation in the use of funds compared to the original objects disclosed in the IPO document. The filing is dated August 8, 2025, and was made to both BSE and NSE.
This is a routine SEBI compliance filing under Regulation 32(6) and does not directly impact the stock price. The 'no deviation' confirmation from ICRA is a neutral-to-positive signal, indicating that IPO funds are being deployed as promised to investors. However, shareholders should note that a large portion of the equipment and company-level debt repayment allocations show no utilization yet, suggesting deployment is still in early stages.