Craftsman Automation Limited has officially stated that there has been no deviation or variation in the utilization of funds raised through its Qualified Institutions Placement (QIP). The company confirmed that the entire amount of ₹2,000 crore raised has been fully utilized for the intended objects. This disclosure pertains to the quarter ended September 30, 2026.
Craftsman Automation Reports on QIP Fund Utilization
Craftsman Automation Limited has submitted its statement regarding the utilization of funds raised through its Qualified Institutions Placement (QIP). For the quarter that concluded on September 30, 2026, the company confirmed that there has been no deviation or variation in how the proceeds were used.
Full Utilization of ₹2,000 Crore QIP Funds
The company raised an aggregate amount of ₹2,000 crore through the QIP. Craftsman Automation has affirmed that these funds have been fully utilized for the specific objects for which they were raised. The statement also noted that the detailed utilization statement for the quarter is provided as Annexure A.
Cessation of Reporting Requirement
Furthermore, Craftsman Automation informed that as per Regulation 32(2) of the SEBI LODR Regulations, the requirement to submit a Statement of Deviation or Variation for this QIP will cease hereafter, as the funds have been fully deployed as intended. The company has requested that this information be taken on record.
Breakdown of Fund Utilization (Q2 2026)
In Annexure A, the statement of deviation or variation in the utilization of funds raised through QIP for the quarter ended September 30, 2026, shows the following details:
- Original Allocation: ₹1,96,461.61 Lakhs for General Corporate Purposes.
- Modified Allocation: ₹46,590.09 Lakhs for General Corporate Purposes.
- Funds Utilised: ₹46,590.09 Lakhs for General Corporate Purposes.
The total amount raised was ₹1,99,99,95,000. Offer-related expenses were less than estimated, with a surplus of ₹128.48 lakhs transferred to General Corporate Purposes. This resulted in an increase in the GCP amount to ₹46,590.09 lakhs, which does not exceed 25% of the Gross Proceeds.
Source: BSE
