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 by Crisil Ratings Limited, tracking utilization of its Rs 8,191.48 million IPO proceeds raised in September 2025. Out of total proceeds, Rs 6,034.75 million (74%) has been deployed so far, leaving Rs 2,156.72 million unutilized. The main use of funds is investment in subsidiary Pace Renewable Energies Private Limited for setting up 250 MW/500 MWh battery energy storage systems for MSEDCL in Maharashtra, with Rs 4,172.72 million of the Rs 6,300 million allocation already deployed. General corporate purposes has seen Rs 1,149.61 million utilized out of Rs 1,158.34 million allocated. The company disclosed that some capital deployment has been delayed due to existing IREDA funding arrangements for the project, and the unutilized balance will be deployed in FY2027.
The IPO funds are being deployed largely as intended with no material deviations. Minor delays in capital expenditure deployment are explained by existing alternate funding, and the unspent amount is parked in fixed deposits and current accounts, with deployment expected to continue into FY2027.