Grasim Industries Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, detailing the utilization of funds raised through its Rights Issue. The report, issued by CARE Ratings Limited, confirms that there has been no variation or deviation in how the proceeds have been used, aligning with the disclosures made in the Offer Document.
Monitoring Agency Report Confirms No Deviation in Rights Issue Fund Utilization
Grasim Industries Limited has officially communicated the findings of its Monitoring Agency Report for the quarter concluding on June 30, 2026. The report, prepared by CARE Ratings Limited, addresses the utilization of funds generated from the company’s recent Rights Issue.
Key Findings: Fund Utilization
The primary objective of the report was to ensure the proper utilization of the issue proceeds. According to the findings, Grasim Industries has adhered strictly to the disclosed objectives. The report explicitly states that there has been no variation or deviation in the utilization of the funds raised. This assurance is crucial for investors, confirming that the company’s financial management aligns with its public commitments.
Information Availability
In line with transparency protocols, the information pertaining to the utilization of funds is also accessible on the company’s official website, www.grasim.com, providing stakeholders with easy access to the disclosed financial information.
Reporting Compliance
The report is submitted in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The documentation has been reviewed by CARE Ratings Limited, acting as the appointed Monitoring Agency.
Details of the Rights Issue
The Rights Issue details indicate a total issue size of ₹3,999.80 crore. The issue period was from January 17, 2024, to January 29, 2024. The total amount utilized as of the end of the quarter was ₹3,971.11 crore, with a remaining unutilized amount of ₹0.42 crore primarily for general corporate purposes. The proceeds were allocated towards the repayment or prepayment of borrowings amounting to ₹3,000.00 crore and general corporate purposes, amounting to ₹977.65 crore as per the offer document.
Deployment of Unutilized Proceeds
A small unutilized balance of ₹0.42 crore was noted for General Corporate Purposes, with no utilization during Q1FY27. The company had previously utilized ₹1.40 crore from unutilized issue expense proceeds towards General Corporate Purposes in Q4FY25, resulting in a current monitoring account balance of ₹0.30 crore.
Source: BSE
