Monitoring Agency Report for the Quarter ended March 31, 2026
GREENPOWER · price
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CRISIL Ratings Limited, the monitoring agency, has submitted its Q4 FY2026 report for Orient Green Power Company's Rs 250 crore Rights Issue (August-September 2024). Of the Rs 250 crore raised, Rs 178.65 crore (71.5%) has been utilized as of March 31, 2026, with Rs 71.35 crore remaining unutilized. The main deployment (Rs 72.15 crore) went into Delta Renewable Energy Private Limited for a solar power project in Tamil Nadu. The company has restructured this project—originally a single 19.80 MW AC plant under Solon India, it is now being developed as 24.60 MW AC across two locations under Remon Solutions Private Limited. All other objects (loan repayments, subsidiary financing, corporate purposes) have been fully utilized. The monitoring agency confirmed no material deviations from the Letter of Offer and no delays versus disclosed timelines.
The unutilized Rs 71.35 crore remains parked in fixed deposits and current accounts, earning interest. The project restructuring shows operational flexibility being exercised within disclosed terms. No red flags for shareholders—the fund utilization appears compliant with the stated objects.