Submission of Monitoring Agency Report for utilisation of fund in the matter of QIP for the Quarter ended on 31st March, 2026.
RATNAVEER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings Limited, the Monitoring Agency, submitted its quarterly report on the utilisation of QIP proceeds for Ratnaveer Precision Engineering. The QIP was completed on December 4, 2025, raising Rs. 1,855 million (net proceeds Rs. 1,823.11 million). Of the total proceeds, Rs. 1,500 million was earmarked for working capital and Rs. 323.11 million for general corporate purposes. As of March 31, 2026, Rs. 323.40 million has been deployed toward working capital (procurement of raw materials), Rs. 31.60 million toward issue expenses, and Rs. 1,500 million remains unutilised, parked in fixed deposits across Bandhan Bank, Axis Bank, IDBI Bank, and Yes Bank. No deviations from the stated objects were reported. However, there is a delay versus the placement document schedule — the company had planned to deploy Rs. 530 million for working capital and Rs. 323.11 million for GCP by FY26, but these targets were missed because the QIP funds were received only at end-December 2025. The company states it intends to utilise the unspent amount in subsequent fiscals.
The QIP funds are being deployed as intended with no misuse, though the delayed utilisation is a minor concern. Rs. 1,500 million sitting in fixed deposits pending deployment means working capital funding is slower than originally planned. This is a routine compliance filing and not alarming, but investors should monitor quarterly progress.