Eternal Limited has filed with exchange monitoring agency report for the quarter ended June 30, 2025
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Eternal Limited has filed ICRA's monitoring agency report on how it is deploying the Rs. 8,500 crore raised through a Qualified Institutions Placement (QIP) in November 2024 at Rs. 252.62 per share, yielding net proceeds of Rs. 8,436.12 crore. As of June 30, 2025, the company has utilized Rs. 1,835.07 crore — Rs. 523.85 crore on dark stores/warehouses, Rs. 476.42 crore on advertising and branding, Rs. 179.31 crore on technology infrastructure, and Rs. 655.49 crore on general corporate purposes (mainly employee benefits). The remaining Rs. 6,601.05 crore is parked in bank fixed deposits, corporate deposits, government securities, and liquid mutual funds earning 6.5%–8.1%. ICRA confirmed no deviation from the objects of the issue and all projects remain on schedule for completion by FY26–FY28.
This is a routine compliance update that reinforces governance discipline — there are no diversions from stated use of funds, which is reassuring for shareholders. The relatively slow deployment pace (about 22% in roughly seven months) means a large portion of the QIP money is still earning interest, boosting near-term other income, but the market may watch for faster progress on dark stores and tech investments.