Adani Enterprises Limited has released its Monitoring Agency Report for the quarter ended September 30, 2026, detailing the utilization of funds raised through a Qualified Institutional Placement (QIP). The report confirms that the ₹15,000 crore raised has been deployed in alignment with the objects disclosed in the placement document, with ₹11,258.58 crore utilized by the end of the quarter.
Adani Enterprises QIP Monitoring Report Released
Adani Enterprises Limited has submitted its Monitoring Agency Report, prepared by CARE Ratings Limited, for the quarter and half-year ended September 30, 2026. This report provides an overview of the utilization of proceeds from the company’s Qualified Institutional Placement (QIP) issue.
Fund Utilization Overview
The QIP issue successfully raised an aggregate amount of ₹15,000 crore. As of September 30, 2026, the total utilized amount stood at ₹11,258.58 crore, leaving an unutilized amount of ₹3,741.42 crore. The report, reviewed by the Audit Committee, indicates that the utilization of funds aligns with the objects stated in the placement document.
Breakdown of Utilized Funds
Key utilization areas include:
- ₹2,450.00 crore allocated for funding capital expenditure requirements, specifically for setting up a polyvinyl chloride (PVC) plant and concession fees related to the Chennai Outer Ring Road (CORR). Of this, ₹640.47 crore was utilized during the quarter.
- ₹7,800.00 crore earmarked for repayment or pre-payment of outstanding borrowings for the company and its subsidiaries, including Mundra Solar PV Limited, Adani Airport Holdings Limited, and Kutch Copper Limited. A significant portion, ₹6,805.10 crore, was utilized by the end of the quarter.
- ₹4,664.50 crore designated for funding inorganic growth through acquisitions and investments, along with general corporate purposes. This includes ₹3,727.79 crore utilized by the end of the quarter.
- ₹85.50 crore for issue-related expenses, with ₹85.22 crore utilized by the quarter’s end.
Unutilized Proceeds and Investments
The unutilized proceeds of ₹3,741.42 crore have been invested in various instruments, including fixed deposits with HDFC Bank, IDBI Bank, IndusInd Bank, and Yes Bank, as well as mutual funds through Invesco Mutual Fund. A balance of ₹1,657.42 crore remains in a monitoring account.
Object Implementation Status
The implementation of key objects is reported as ongoing. The projected completion dates for the PVC plant and CORR project are January 2028, while repayment of borrowings and inorganic growth initiatives are expected by July 2027.
Source: BSE
