KRN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings Limited, the Monitoring Agency, has submitted its report on the utilization of IPO proceeds for the quarter ended March 31, 2026. The IPO raised Rs 34,194.60 lakhs (gross), with net proceeds of Rs 31,111.66 lakhs after issue expenses of Rs 3,082.94 lakhs. Of the Rs 23,575.66 lakhs allocated for investment in subsidiary KRN HVAC Products Private Limited to set up a new manufacturing facility at Neemrana, Rs 23,304.05 lakhs has been utilized, leaving Rs 271.61 lakhs in the subsidiary's current account. General Corporate Purposes (Rs 7,536 lakhs) has been fully utilized. Total deployment stands at Rs 33,847.32 lakhs with Rs 347.28 lakhs unutilized (Rs 75.67 lakhs in FD, Rs 271.61 lakhs in current account). There is a delay in the project implementation because imported machines are in transit, and the company plans to deploy the remaining funds in subsequent fiscal years.
The IPO proceeds are being deployed largely as planned with no major deviations. The slight delay in the manufacturing facility project due to imported machinery in transit is minor and does not materially impact the investment thesis. Shareholders can monitor progress on the new facility.