Monitoring Agency Report for the quarter ended March 31, 2026.
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Concord Enviro Systems Limited submitted its Q4 FY2026 Monitoring Agency Report by ICRA Limited. The IPO (December 2024) raised Rs. 500.326 crore with net proceeds of Rs. 162.076 crore after accounting for actual issue expenses being Rs. 0.816 crore higher than estimated. As of March 31, 2026, the company has utilized Rs. 130.852 crore out of Rs. 175 crore proposed, with Rs. 44.148 crore remaining unutilized. The unutilized funds are deployed in fixed deposits with ICICI Bank (Rs. 29.88 crore with accrued interest of Rs. 2.528 crore) and balance in monitoring/escrow accounts. ICRA confirmed no material deviation in utilization, all projects are on schedule, and funds are being used as per the Offer Document disclosures.
This is a routine compliance filing showing proper deployment of IPO proceeds with no material deviations. All capital expenditure projects for the greenfield assembly unit, brownfield expansion, working capital, and technology investments remain on schedule, which is a positive signal for investors awaiting returns from the IPO.