ACME Solar Holdings Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. Prepared by CARE Ratings Limited, the report details the utilization of funds raised through the Qualified Institutions Placement (QIP). The company confirms that the proceeds have been utilized as per the objects of the issue, with unutilized amounts parked in term deposits with scheduled commercial banks.
Monitoring Agency Report for Q2 2026 Filed
ACME Solar Holdings Limited has officially submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report, prepared by CARE Ratings Limited, serves as an independent assessment of the utilization of funds raised through the company’s Qualified Institutions Placement (QIP). The submission is in compliance with SEBI regulations.
Utilization of Proceeds
The report indicates that the proceeds from the QIP have been partially utilized as per the objects of the issue. The unutilized amount has been parked in term deposits with scheduled commercial banks and a balance is maintained in a monitoring account. The report breaks down the utilization across key areas such as repayment of borrowings, general corporate purposes, and issue expenses.
Key Utilization Details:
- Repayment / Pre-payment of Borrowings: A total of ₹986.24 crore was utilized during the quarter for the repayment of LC facilities.
- General Corporate Purposes: No utilization was recorded for general corporate purposes during the quarter. The allocated amount for this purpose was ₹662.90 crore.
- Issue Expenses: A total of ₹28.77 crore was utilized towards issue expenses during the quarter.
Deployment of Unutilized Proceeds
The unutilized proceeds are primarily invested in fixed deposits with various banks, including Axis Bank, IndusInd Bank, and CSB Bank, earning interest rates ranging from 5.75% to 6.90%. The total unutilized amount as of the end of the quarter was ₹710.08 crore.
Source: BSE
