Please find the enclosed the Monitoring Agency report for the quarter ended on 31 March, 2026
CYIENTDLM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited, the appointed Monitoring Agency, has submitted its final report for Q4 FY2026 (quarter ended March 31, 2026) on the utilization of Cyient DLM's IPO proceeds. The IPO raised INR 700 crore (net proceeds revised to INR 663.154 crore due to lower issue expenses). All five utilization objects show full deployment: working capital funding (INR 327.937 crore), capex (INR 6.725 crore), debt repayment (INR 160.911 crore), inorganic growth/acquisitions (INR 70.000 crore), and general corporate purposes (INR 97.581 crore). Total deployed is INR 618.027 crore with INR 45.127 crore still unutilized. ICRA confirmed no material deviation from the objects of the issue. A special resolution was passed on March 8, 2026 to reallocate INR 36.847 crore from capex to working capital funding, approved by shareholders. No unfavorable events affecting viability were noted.
All IPO proceeds are fully deployed or earmarked with no material deviations. The remaining INR 45.127 crore unutilized amount is expected to be deployed as per objects. No red flags for investors regarding fund misuse or project delays.