Report of India Ratings & Research Private Limited, Monitoring Agency, dated 13th May 2026 for the quarter ended 31st March 2026 for utilization of proceeds of the Qualified Institutions Placement under the Regulation 173A of the SEBI ICDR Regulations and Regulation 32 of the SEBI Listing Regulations.
JKTYRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Ratings & Research, the Monitoring Agency appointed for JK Tyre's QIP issue, has confirmed full utilization of INR 500 crore proceeds raised in December 2023. The QIP comprised 1,44,92,749 equity shares at Rs 345 each. Capital expenditure of Rs 350 crore for manufacturing expansion was fully deployed, with Rs 292.17 crore used earlier and Rs 57.83 crore in the current quarter. Working capital of Rs 25 crore was also fully utilized. General Corporate Purposes allocation increased slightly from Rs 116.10 crore to Rs 116.60 crore due to Rs 0.50 crore savings on lower issue expenses (Rs 8.40 crore vs Rs 8.90 crore estimated). The Rs 79.49 crore GCP was used for payments to vendors and raw material creditors. No deviations from the stated objects were observed, confirmed by statutory auditor Lodha & Co LLP.
This positive compliance report indicates proper deployment of QIP funds as disclosed in the placement document. Shareholders can be assured that the INR 500 crore raised has been fully utilized for the stated objectives of manufacturing expansion and working capital, with no material deviations requiring disclosure.