Please find enclosed herewith the Monitoring Agency Report for the quarter ended March 31, 2025.
EPACK · price
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EPACK Durable Limited has filed the quarterly Monitoring Agency Report prepared by ICRA Limited for the quarter ended March 31, 2025, tracking the use of proceeds from its January 2024 IPO of INR 640.05 crore (net proceeds of INR 379.683 crore excluding OFS, now revised to INR 379.338 crore due to higher issue expenses). ICRA confirmed there is no deviation from the stated objects of the issue and no major deviation from earlier monitoring reports. The three objects — INR 230 crore for capex on new manufacturing facilities (on schedule for FY2026 completion), INR 80 crore for loan repayment (already completed in FY2024), and INR 69.338 crore for general corporate purposes (slightly reduced from the original estimate) — are proceeding as planned. Unutilized funds of about INR 196.4 crore are parked in fixed deposits with HDFC Bank and Yes Bank, earning around 7.6-7.75% interest.
This is a routine but positive compliance filing — ICRA has flagged no misuse, no material deviations, and no adverse events affecting the viability of the IPO objects, which should reassure shareholders that the company is deploying IPO funds responsibly. The capex for manufacturing expansion remains on track, and idle funds are generating steady interest income, both of which are mildly positive for long-term investors.