Final Monitoring Agency Report for the quarter ended on 31st March, 2025 for funds raised through Qualified Institutions Placement
Awaiting price reaction for this filing.
Kalpataru Projects International Limited has filed the final Monitoring Agency Report from Crisil Ratings Limited covering the use of funds raised through its Qualified Institutions Placement (QIP) in December 2024. The QIP raised gross proceeds of Rs 1,000 crore, with net proceeds of Rs 982.11 crore after Rs 17.89 crore in issue expenses. All net proceeds have been fully deployed as planned: Rs 750 crore for repayment or pre-payment of outstanding borrowings and Rs 232.11 crore for general corporate purposes. As of March 31, 2025, both the QIP escrow account and monitoring account balances stand at Nil, marking this as the final report. There are no deviations from the objects disclosed in the offer document and no major changes from earlier monitoring reports.
This is a routine regulatory compliance filing confirming that the QIP funds have been used exactly as disclosed to investors. It signals complete and transparent deployment of proceeds and closes out the monitoring cycle, with no negative flags for shareholders.