Please find enclosed Monitoring Agency Report for the quarter ended March 31, 2026.
GRAVITA · price
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Gravita India Limited has submitted the Q4 FY2026 monitoring agency report (ended March 31, 2026) for its Qualified Institutional Placement (QIP) that raised Rs. 1,000 crore in December 2024. The independent monitoring agency ICRA Limited has confirmed that all proceeds have been utilized as per the disclosed objects with no deviations observed. Specifically, Rs. 530 crore was used for repayment of borrowings, Rs. 250 crore for working capital funding, and Rs. 201.42 crore for general corporate purposes. The report notes Rs. 90.53 crore was unutilized at quarter end, with Rs. 909.47 crore deployed during the quarter. All three stated objectives were completed within FY2026 timeline as committed in the offer document.
Positive signal for shareholders - the QIP funds have been fully deployed as promised with no material deviations, indicating proper governance and execution of stated objectives. This transparency in fund utilization reinforces trust in management's commitment to stated growth plans.