XPROINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings Limited, the Monitoring Agency, has submitted its final report for the QIP and the quarterly report for the Preferential Issue, both for the quarter ended March 31, 2026. For the QIP (Rs 1,500 million gross / Rs 1,441.83 million net proceeds, issued February 2024), all funds have been fully deployed — equipment and machinery (Rs 282.70M), debt prepayment (Rs 98.80M), working capital (Rs 660M), ERP implementation (Rs 32.39M), and general corporate purposes (Rs 367.94M). No deviations were observed and this is the final QIP monitoring report. For the Preferential Issue (Rs 140 crore, issued January 2024), Rs 65.36 crore (47%) has been deployed — Rs 59.10 crore on capital expenditure (mainly building the Xpro Dielectric Films FZ-LLC subsidiary plant in UAE and purchasing equipment) and Rs 6.26 crore on working capital and GCP. Rs 74.63 crore remains parked in fixed deposits across multiple Indian and UAE banks earning 3.25–6.90% interest. The unspent amount is expected to be used in subsequent quarters for the specified expansion purposes.
The QIP is fully closed with all proceeds utilized as per disclosure — a clean outcome for existing shareholders. For the Preferential Issue, nearly half the capital remains unutilized and is earning interest; investors should monitor the pace of expansion deployment in future quarters, particularly the UAE dielectric film project which absorbs the largest portion of the capital.