Monitoring Agency report for the quarter ended March 31, 2026
PACEDIGITK · price
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Pace Digitek Limited submitted its Q4 FY2026 Monitoring Agency Report for their IPO proceeds of Rs 8,191.48 million raised in September 2025. Of the Rs 6,034.75 million utilized, Rs 4,172.72 million went toward battery energy storage systems for their MSEDCL project, Rs 1,149.61 million for general corporate purposes, and Rs 712.42 million for issue expenses. The remaining Rs 2,156.72 million is held in fixed deposits and current accounts. The company notes that Rs 963 million is earmarked for letters of credit guarantees for the Maharashtra project, and Rs 144.63 million in vendor arrangements were modified from the prospectus, with board approval obtained in April 2026. Deployment was slower than planned due to availability of existing IREDA funding for the project, with unutilized amounts planned for FY2027.
The IPO proceeds are being deployed largely as intended with no material deviations. The slower-than-expected capital expenditure deployment is explained by project funding arrangements and is planned for completion in FY2027. Minor modifications to vendor arrangements were properly approved by the board.