Laxmi Organic Industries Limited has Submitted Monitoring Agency Report relating to QIP for the quarter ended March 31, 2026, under Regulation 32 of SEBI (Listing Obligation and Disclosure ....
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Laxmi Organic Industries has submitted its quarterly monitoring agency report for the Qualified Institutions Placement (QIP) completed in October 2023. The INR 2,591.21 million QIP proceeds are being utilized as per the stated objects with no deviation observed. The Mahape Innovation Centre has been completed with a 6-month delay but fully utilized INR 250.43 million. The Dahej manufacturing facility is ongoing with INR 1,621.37 million deployed out of INR 1,729.24 million (revised). INR 109.58 million saved from the completed Mahape project was reallocated to Dahej with shareholder approval dated December 6, 2025. Total deployment stands at INR 2,483.34 million with INR 107.87 million remaining, invested in a mutual fund.
Positive signal for investors - funds are being deployed as intended with proper governance. The completed innovation centre and progressing Dahej facility indicate capital expenditure is on track, though the Dahej project timeline has been extended to June 2026.