KAYNES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
ICRA Limited has submitted Monitoring Agency Reports for utilization of IPO proceeds (Nov 2022 issue) and QIP proceeds (Dec 2023 issue) as of March 31, 2025, confirming no material deviation from stated objects. For the IPO, ₹585.62 Crore of the ₹625.74 Crore net proceeds has been deployed, with ₹40.12 Crore unutilized and parked in fixed deposits; the Mysuru/Manesar manufacturing expansion is delayed by about 12 months and ₹26.20 Crore was spent via internal accruals pending reimbursement. For the QIP, ₹552.02 Crore of the ₹1,374 Crore net proceeds has been used, leaving ₹821.98 Crore unutilized, invested in bank FDs and a gilt fund. The OSAT facility capex is on schedule, while PCB facility capex and the remainder of general corporate purposes are expected to be completed by Q4FY26.
Overall a routine, compliant update — proceeds are being spent as planned with no red flags, though investors should note a 12-month delay in the Mysuru/Manesar capex and that over ₹860 Crore is still parked in deposits awaiting deployment into the OSAT, PCB and growth projects.