Monitoring Agency Report for the quarter ended 31st December, 2025.
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Awaiting price reaction for this filing.
Crisil Ratings has filed the Monitoring Agency Report on Enviro Infra Engineers' IPO proceeds as of December 31, 2025, confirming no deviation from the original objects of the issue. Of the Rs 51,727.25 lakhs net IPO proceeds, the company has utilized Rs 44,467.57 lakhs (about 86%), leaving Rs 7,259.68 lakhs unutilized. The full Rs 12,000 lakhs earmarked for borrowings repayment and Rs 3,000 lakhs for the Mathura STP project have been fully deployed. For working capital, Rs 16,414.07 lakhs of the Rs 18,100 lakhs allocated has been used, with Rs 1,685.93 lakhs remaining. During the quarter, Rs 3,200 lakhs from the General Corporate Purposes pool was deployed as a loan to subsidiary Enviro Infra Engineers (Saharanpur) Private Limited as promoter contribution for a HAM project. The remaining Rs 7,386 lakhs of unutilized proceeds is parked in an HDFC Bank fixed deposit maturing September 2026, earning 6.30% interest.
A clean monitoring report with no deviations should reassure investors, though roughly 14% of IPO proceeds remain unspent more than a year after listing. Idle funds earning ~6.3% in FDs is reasonable, but shareholders may watch whether the unutilized working capital and GCP amounts get deployed meaningfully over the next few quarters.