Monitoring Agency Report for the quarter ended 31st March, 2026
TARIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Transformers and Rectifiers India Limited has submitted its QIP monitoring report for Q4 FY26 through India Ratings & Research. The company raised INR 5,000 million via QIP in June 2024 by issuing 75.18 million equity shares at INR 665 per share. Out of total proceeds, INR 2,945.69 million (59%) has been utilized, leaving INR 2,054.31 million unutilized. The unutilized funds are temporarily deployed in fixed deposits (INR 1,000 million), alternative investment funds (INR 637.50 million), portfolio management services (INR 412.50 million), and bank balances (INR 5.49 million). Key observation: Issue expenses were INR 141.78 million against the planned INR 111.85 million, an excess of INR 29.93 million which was ratified by the Board. All QIP objects show delay beyond the planned Fiscal 2025 completion, with revised target now July 2026.
The monitoring agency confirms no deviation from stated objects, which is positive. However, the 12+ month delay in deploying QIP funds for capital expenditure and business expansion may indicate slower-than-expected execution or market conditions. The unutilized funds are earning returns in FDs and alternative instruments.