Info Edge (India) Limited has submitted its Statement of Deviation or Variation in the utilization of funds raised through Qualified Institutional Placement (QIP) for the quarter ended June 30, 2026. The company confirmed to both the National Stock Exchange of India Limited and BSE Limited that there has been no deviation or variation in the utilization of funds raised in FY 2020-21. This statement has been reviewed by the Audit Committee and noted by the Board of Directors.
Info Edge Reports on QIP Fund Utilization
Info Edge (India) Limited has officially informed the stock exchanges, National Stock Exchange of India Limited and BSE Limited, regarding the utilization of funds raised through a Qualified Institutional Placement (QIP). The filing pertains to the quarter ended June 30, 2026, and addresses the requirements under Regulation 32(1) of the SEBI Listing Regulations.
Confirmation of No Deviation
In its submission, the company has stated that there has been no deviation or variation in the utilization of funds raised during the Financial Year 2020-21 through the QIP. This confirmation indicates that the funds raised are being utilized as originally planned and disclosed.
The statement of NIL deviation or variation in the utilization of QIP proceeds for the quarter ending June 30, 2026, has undergone a thorough review by the Audit Committee. Subsequently, it was noted by the Board of Directors at their respective meetings held on August 10, 2026. The company has requested that these submissions be taken on record by the regulatory bodies.
The Net Proceeds of the QIP, originally amounting to Rs. 18,750 Mn (net of expenses paid/provided amounting to Rs. 459.68 Mn), were proposed to augment the company’s long-term cash resources. These funds are intended for meeting the requirements of business activities and general corporate purposes, as part of Info Edge’s growth strategy.
The utilization table indicates that a total of Rs. 8,216.43 Mn has been utilized by the end of the quarter. The original allocation was Rs. 18,290.32 Mn, with no modified allocation. The remaining balance reflects planned future deployment as per the company’s strategy and market conditions.
Source: BSE
