Monitoring Agency Report for the Quarter ended March 31, 2026

Solarworld Energy Solutions Limited filed its Q4 FY2026 monitoring agency report submitted by CRISIL Ratings Limited. The company raised Rs 5,500 million total through an IPO (Rs 4,400 million in September 2025) and Pre-IPO placement (Rs 1,100 million in November 2024). As of March 31, 2026, Rs 1,246.72 million has been utilized out of Rs 5,500 million, leaving Rs 4,253.28 million unutilized. The major object of the issue is investment in subsidiary KSPL for establishing a 1.2 GW solar PV TopCon cell manufacturing facility in Pandhurana, Madhya Pradesh. However, Rs 4,116.78 million designated for this project remains completely unutilized with no deployment during the quarter. Issue expenses of Rs 230.14 million out of Rs 283.22 million have been utilized. General corporate purposes (Rs 1,016.78 million) is nearly fully deployed at Rs 1,016.58 million. The unutilized proceeds are parked in fixed deposits with HDFC Bank, Yes Bank, and Axis Bank, earning approximately Rs 60.52 million in interest during the period.