Monitoring Agency Report pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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KEI Industries has submitted its Q4 FY26 monitoring agency report for the Rs. 2,000 crore Qualified Institutional Placement completed in November 2024. Of the total proceeds, Rs. 1,614.34 crore (80.7%) has been utilized as of March 31, 2026, leaving Rs. 385.66 crore unutilized (including Rs. 81.37 crore interest earned). The Sanand cable manufacturing facility has received Rs. 1,064.69 crore of its Rs. 1,450 crore allocation - the first phase for LT/HT cables was commissioned in December 2025, while EHV cable production is delayed to Q4 FY 2026-27. Debt repayment (Rs. 275.99 crore), issue expenses (Rs. 34.37 crore), and general corporate purposes (Rs. 239.29 crore of Rs. 239.64 crore) have been largely utilized. No deviations from stated objects were reported, and the unutilized funds are parked in FDRs with returns ranging from 4.75% to 7.51%.
The filing shows the QIP proceeds are being deployed largely as planned with no material deviations. The partial delay in the Sanand plant's EHV cable production is a minor concern but within acceptable limits. Shareholders can take comfort that fund utilization is proceeding and the debt repayment has been completed.