Sansera Engineering Limited has received confirmation from its Monitoring Agency, ICRA Limited, that the proceeds raised through its Qualified Institutions Placement (QIP) have been utilized strictly in accordance with the stated objects of the issue. The report for the quarter ended September 30, 2026, indicates no deviation, assuring investors of proper fund management and adherence to disclosure commitments.
QIP Proceeds Utilization Verified
Sansera Engineering Limited has submitted its Monitoring Agency Report for the quarter ending September 30, 2026. The report, prepared by ICRA Limited, confirms that the company has adhered to the planned utilization of funds raised through its Qualified Institutions Placement (QIP). This assurance comes as per the applicable provisions of the SEBI (LODR) Regulations, 2015.
No Deviation from Issue Objectives
The key finding from the Monitoring Agency’s assessment is that there has been no deviation in the utilization of the QIP proceeds concerning the objects of the issue. This means the funds raised have been employed precisely as disclosed to investors during the QIP process. The report, received by both the National Stock Exchange of India Ltd. and BSE Limited, is now on record for public and regulatory review.
Details of Utilization
The report details the allocation of the net proceeds, amounting to INR 1,174.979 Crore. Key utilization areas include the repayment of borrowings (₹700.00 Crore), acquisition of land for a new manufacturing facility (₹100.00 Crore), capital expenditure for expansion and development of existing manufacturing facilities (₹100.00 Crore), and general corporate purposes (₹274.979 Crore). The report also tracks the progress of each object, with the total utilized amount standing at ₹974.306 Crore by the end of the quarter, leaving an unutilized balance of ₹225.694 Crore, which is primarily deployed in fixed deposits and monitoring accounts.
The agency confirmed that the utilization of funds for each object is in line with the offer document. For instance, the acquisition of land and capital expenditure for manufacturing facilities have seen significant utilization, with minor unutilized amounts attributed to timing differences. General corporate purposes have seen partial utilization, with the remaining expected to be deployed in FY2026-27. The report explicitly states that there were no delays in the implementation of the objects as per the defined timelines or any major deviations observed.
Source: BSE
