Pursuant to Regulation 32(6) of the SEBI (LODR) Regulations, 2015 and Regulation 41 of SEBI (ICDR) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report dated May 15,2025 issued by CRISIL Ratings Limited for the Quarter ended March 31, 2025 in respect of utilization of proceeds of the IPO of the Company.
JNKINDIA · price
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JNK India has filed the CRISIL Monitoring Agency Report tracking how it used money raised from its April 2024 IPO. The IPO brought in Rs 2,821.84 million as net proceeds (slightly higher than the original Rs 2,797.39 million because actual issue expenses came in Rs 24.45 million lower). Of this, Rs 2,651.35 million was earmarked for working capital needs and Rs 170.49 million for general corporate purposes. As of March 31, 2025, the company has used Rs 2,339.00 million for working capital and Rs 170.00 million for general corporate purposes, leaving Rs 312.84 million unutilized. The unutilized amount is parked in fixed deposits with SBI, HDFC Bank, and ICICI Bank, earning interest between 5% and 7.4%. The Monitoring Agency confirmed no deviation from the stated IPO objects, no material changes in financing, and no unfavorable events. There is a minor delay of Rs 0.49 million in general corporate purpose spending, which the company plans to use in Fiscal 2026, as allowed under the prospectus.
This is a routine compliance update with no negative surprises. Shareholders can take comfort that IPO funds are being deployed as promised, with idle money safely parked in bank FDs. The negligible delay in general corporate purpose spending is immaterial and does not affect the company's operations or growth plans.