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 Requirements), 2015
LXCHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Laxmi Organic Industries has submitted its quarterly monitoring report for the Qualified Institutions Placement (QIP) completed in October 2023. The QIP raised INR 2,591.21 million. India Ratings & Research, the monitoring agency, confirms there is no deviation in the utilization of proceeds from the stated objects. As of March 31, 2026, INR 2,483.34 million (96%) has been deployed, with INR 107.87 million remaining unutilized. The innovation centre at Mahape was completed under budget (saving INR 109.58 million), which was reallocated to the Dahej manufacturing facility with shareholder approval. The Dahej project is ongoing with INR 1,621.37 million deployed so far. The unutilized funds are temporarily invested in ABSL Arbitrage Fund.
This is a positive compliance update confirming proper utilization of QIP funds. No deviations from stated objects and shareholder-approved reallocation indicate good governance. The Dahej manufacturing expansion remains on track with timeline extended to June 2026.