Pursuant to Regulation 32(6) of the SEBI (LODR) Regulations, 2015 and Regulation 41 of SEBI (ICDR) Regulations, 2018, enclosing herewith Monitoring Agency Report dated August 12, 2025 issued by CRISIL Ratings Limited for the quarter ended June 30, 2025 in respect of utilization of proceeds of the IPO
JNKINDIA · price
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JNK India Limited has filed the CRISIL Ratings Monitoring Agency Report for the quarter ended June 30, 2025, tracking how it has used the money raised from its April 2024 IPO. The total net IPO proceeds were Rs 2,821.84 million, allocated between working capital needs (Rs 2,651.35 million) and general corporate purposes (Rs 170.49 million). As of June 30, 2025, the company has used Rs 2,530.11 million overall — Rs 2,360.11 million for working capital and Rs 170.00 million for general corporate purposes — leaving Rs 291.73 million unutilized. Only Rs 21.11 million was deployed during this quarter, with the unutilized amount parked in fixed deposits with SBI, HDFC Bank, and ICICI Bank. CRISIL confirmed there are no deviations from the stated objects, no delays in implementation, and no material issues affecting the viability of the objects.
The report shows JNK India is deploying IPO funds largely as promised, but deployment has slowed — only about 1% of net proceeds were used in Q1 FY26. The remaining Rs 291.73 million in bank FDs earns a safe ~5–7% return, so there's no urgent concern, but shareholders may want to watch whether the working capital deployment picks up pace in coming quarters to justify the original purpose of the raise.