Report of India Ratings & Research Private Limited, Monitoring Agency, dated 11th August 2025 for the quarter ended 30th June 2025 for utilization of proceeds of the Qualified Institutions Placement under the Regulation 173A of the ICDR Regulations and Regulation 32 of the SEBI Listing Regulations.
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JK Tyre & Industries has submitted the quarterly Monitoring Agency Report from India Ratings & Research for the quarter ended 30th June 2025, tracking the use of funds from its Qualified Institutions Placement (QIP) conducted in December 2023. The QIP raised INR 500 crore by issuing 1.44 crore equity shares at INR 345 per share. Out of the total, INR 101.32 crore has been utilized so far — mainly INR 92.92 crore towards capital expenditure for manufacturing facility expansion — while INR 398.68 crore remains unutilized. The unutilized funds are parked in fixed deposits with HDFC Bank earning around 7.5-7.76% interest. There is no deviation from the stated objects, and the project completion timeline remains March 2026.
This is a routine compliance filing with no negative findings — the monitoring agency confirmed fund usage is on track and as per plan. The slow pace of capital expenditure deployment (only ~27% used so far) is normal for large expansion projects, and idle funds are earning healthy interest, which is mildly positive for shareholders.