Monitoring Agency Report received from ICRA for the quarter ended 30 June 2025
CYIENTDLM · price
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Awaiting price reaction for this filing.
Cyient DLM has submitted ICRA's quarterly Monitoring Agency Report for its IPO proceeds, filed under SEBI LODR Regulation 32(6). The company raised ₹663.154 crore (revised upward from ₹658.963 crore) through its IPO in June 2023 and has utilized ₹557.835 crore as of 30 June 2025, leaving ₹105.319 crore unutilized. Of the original allocation, ₹160.911 crore for repayment of borrowings is fully deployed, while ₹70 crore earmarked for inorganic growth/acquisitions remains completely untouched. The remaining unutilized ₹105.319 crore is parked in fixed deposits with Axis Bank (₹105 crore) and monitoring/escrow accounts (₹0.681 crore). No deviations from the stated objects or unfavorable events were observed by ICRA or the Board of Directors.
This is a routine regulatory compliance filing with no red flags raised by the monitoring agency. The unutilized ₹105 crore represents about 16% of IPO proceeds still pending deployment, with the working capital object slightly delayed by 3 months but actively being deployed — neutral to mildly positive for shareholders as funds remain safely parked in bank deposits.