Please find enclosed Monitoring Agency Report received from ICRA for the quarter ended 30 September 2025
CYIENTDLM · price
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Awaiting price reaction for this filing.
Cyient DLM has submitted the ICRA Monitoring Agency Report tracking how it used the proceeds from its June–July 2023 IPO of ₹700 crore. The company raised ₹663.15 crore net of expenses (slightly more than the original estimate of ₹658.96 crore since issue costs came in lower). Of this, ₹618.03 crore has already been deployed, including full use of ₹160.85 crore for borrowings repayment, ₹70 crore for acquisitions, and ₹97.58 crore for general corporate purposes. Working capital deployment stands at ₹286.87 crore of the ₹291.09 crore planned, while capital expenditure has only used ₹3.79 crore of ₹43.57 crore due to a 6-month delay in aligning with the working capital cycle. The remaining ₹45.13 crore sits in fixed deposits with Federal Bank, a monitoring agency account with HDFC Bank, and an Axis Bank escrow. ICRA confirmed no material deviation from the objects stated in the offer document.
This is a routine regulatory compliance filing, not a new corporate action. Investors can see that almost 93% of IPO funds have been deployed, with the main pending item being capital expenditure, which the company expects to use in FY26-27. No material deviation flagged by ICRA, so near-term impact on the stock is neutral.