Please refer enclosed attachment
Awaiting price reaction for this filing.
ICRA Limited, the monitoring agency, has confirmed that Allcargo Gati has used its Qualified Institutions Placement (QIP) proceeds in line with the stated objects, with no deviations. The company raised Rs. 169.28 crore (net Rs. 161.12 crore) through the QIP in June 2024. As of March 31, 2025, Rs. 100.44 crore has been utilized, including the full Rs. 100 crore earmarked for repaying borrowings of its material subsidiary and Rs. 0.44 crore spent on general corporate purposes (vehicle painting). The remaining Rs. 60.68 crore, meant for upgradation of operating units, proprietary technology development, and further GCP use, is parked in fixed deposits with IndusInd Bank yielding 3.5%-7.45%. All objects remain on schedule per the offer document, with no major adverse events reported.
This is a routine regulatory disclosure and largely neutral for shareholders. The fact that the full Rs. 100 crore debt repayment objective has been completed is a positive signal for the company's balance sheet. However, about Rs. 60 crore remains unutilized for capex and technology, so investors should watch upcoming quarters to see timely deployment of these funds.