ZENTEC · price
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CRISIL Rating Limited, the monitoring agency, has submitted its report on the utilization of QIP proceeds for Zen Technologies Limited for Q4 FY26 (quarter ended March 31, 2026). The QIP was completed in August 2024 with gross proceeds of Rs 1,00,000 lakhs and net proceeds of Rs 97,950.77 lakhs. Of the total net proceeds, Rs 70,376.01 lakhs (71.9%) has been utilized so far, with Rs 27,574.76 lakhs remaining unutilized. Working capital funding is nearly complete at Rs 41,000 lakhs (99.99% utilized). Inorganic growth through acquisitions has seen Rs 17,141.99 lakhs deployed with Rs 17,858.01 lakhs still pending - no utilization occurred during this quarter. General corporate purposes utilization stands at Rs 12,234.02 lakhs. The unutilized funds are parked in fixed deposits with ICICI Bank, Indian Bank, and Axis Bank earning interest rates between 6.15%-6.37%. The monitoring agency confirmed all utilization is as per the offer document disclosures with no deviations observed.
This is a routine compliance filing confirming proper deployment of QIP funds as disclosed. No red flags were raised by the monitoring agency, and the company appears to be on track with its stated objectives. The significant unutilized amount in inorganic growth (Rs 17,858.01 lakhs) suggests future acquisition activity may be pending.