Monitoring Agency Report for the quarter ended September 30, 2025
ZENTEC · price
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Zen Technologies, an aerospace and defence company, has filed its Monitoring Agency Report from CRISIL Ratings for the quarter ended September 30, 2025, tracking use of proceeds from its QIP conducted in August 2024. The QIP raised Rs. 1,000 crore gross (Rs. 979.5 crore net), earmarked for working capital (Rs. 410 crore), inorganic growth/acquisitions (Rs. 350 crore), and general corporate purposes (Rs. 219.5 crore). As of September 30, 2025, the company has utilized about Rs. 639 crore (65%) of net proceeds, with Rs. 39.74 lakh remaining unutilized in working capital, Rs. 224.5 crore in acquisitions, and Rs. 115.6 crore in GCP. Notably, during this quarter the company paid Rs. 440 lakh as 3rd and 4th call money to Vector Technics Private Limited, raising its holding in Vector to 51%. The unutilized Rs. 340.5 crore is parked in fixed deposits across ICICI, Indian, and Axis Banks earning 6.15-6.37% interest.
For shareholders, this is a routine compliance filing confirming QIP proceeds are being used as planned, with no deviations from stated objects. The continued deployment toward acquisitions (especially the Vector Technics stake building) signals active inorganic growth, which could expand the company's defence manufacturing capabilities. The large unutilized balance parked in bank FDs means near-term returns are modest, but capital is preserved for future acquisitions or strategic needs.