Monitoring Agency Report for the quarter ended March 31, 2026
IGIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited submitted its quarterly monitoring report for IGIL's IPO proceeds utilization. The company raised Rs 1,475 crore (excluding issue expenses) through an IPO in December 2024. As of March 31, 2026, Rs 1,472.79 crore (99.8%) has been deployed, with only Rs 2.21 crore remaining unutilized for pending issue-related expenses. The primary object — acquisition of IGI Belgium Group and IGI Netherlands Group from promoter BCP Asia II Topco Pte Ltd for Rs 1,300 crore — was completed by December 31, 2024 with no delay. General corporate purposes of Rs 109.74 crore has been fully utilized across vendor payments, statutory dues, and salaries. No deviations from the offer document were observed. The company transitioned its financial year from calendar year to standard April-March format, resulting in a 15-month FY25 ending March 31, 2026.
This is a routine compliance filing with no red flags. IPO proceeds are being utilized as disclosed in the offer document, the international acquisition has been completed, and no material deviations were found. Shareholders can view this as positive confirmation that fund deployment is on track.