Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 please find enclosed herewith Monitoring Agency Report in respect of utilization of proceeds of IPO for the quarter ended June 30th, 2025, issued by Crisil Ratings Limited, Monitoring Agency.
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Gala Precision Engineering filed the Crisil Ratings Monitoring Agency Report on use of IPO proceeds for the quarter ended June 30, 2025. The IPO (held in September 2024) raised gross proceeds of Rs 1,353.40 million and net proceeds of Rs 1,212.35 million. As of June 30, 2025, the company has utilized Rs 812.88 million in total, with Rs 540.52 million still unutilized. Loan repayment of Rs 454.30 million and issue expenses of Rs 141.05 million are fully deployed. The new Tamil Nadu facility has used Rs 173.98 million of its Rs 370 million budget, Wada (Maharashtra) capex has used Rs 39.36 million of Rs 110.69 million, and only Rs 4.19 million of the Rs 277.36 million general corporate purposes allocation has been spent. The monitoring agency confirmed no deviation from stated objects, no delays, and no major changes versus earlier reports. Unutilized funds are parked in fixed deposits with HDFC Bank and YES Bank, earning between 7.10% and 8.00%.
Routine, positive disclosure for shareholders — IPO money is being spent in line with what was promised at the time of listing, with no misuse or delays flagged. The large unutilized balance (about 40% of gross proceeds) means upcoming capex at the new Tamil Nadu plant and Wada facility remains a key monitorable for execution over the next few quarters.