Monitoring Agency Report for the quarter ended June 30, 2025
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Sansera Engineering filed the ICRA Monitoring Agency Report for the quarter ended June 30, 2025, tracking use of proceeds from its October 2024 QIP of Rs. 1,200 crore (net Rs. 1,174.979 crore). The monitoring agency confirmed no deviation from the stated objects of the issue. As of June 30, 2025, a total of Rs. 883.593 crore has been utilized, with Rs. 316.407 crore still unutilized. The borrowing repayment of Rs. 700 crore is fully done. Capex on existing facilities has used Rs. 60.294 crore of the planned Rs. 100 crore. Land acquisition for a new facility has used Rs. 88.972 crore of the Rs. 100 crore target. General corporate purpose (GCP) has barely started — only Rs. 9.306 crore deployed out of Rs. 274.979 crore, with that amount going toward a renewable energy investment approved by the board on May 27, 2025. Unutilized funds are parked in fixed deposits with SBI and HDFC Bank, earning 7.40%-7.80% interest, with a market value of Rs. 336.902 crore.
This is a routine compliance filing with no negative flag — ICRA confirmed QIP funds are being used as disclosed, and idle money is earning solid FD interest. However, investors may note the very slow deployment of the large Rs. 275 crore GCP pool and delayed land acquisition, though management expects remaining utilization in FY2025-26.