Xtranet Technologies Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, detailing the utilization of funds raised through its Initial Public Offer (IPO). The report, issued by Crisil Ratings Limited, confirms that the proceeds have been utilized for specified purposes, including loan repayment, working capital, and general corporate expenses, in line with the offer document disclosures.
Monitoring Agency Report Submitted for Q3 2026
Xtranet Technologies Limited has formally submitted its Monitoring Agency Report to the stock exchanges, covering the utilization of funds raised from its Initial Public Offer (IPO) for the quarter ended September 30, 2026. The report, prepared by the appointed Monitoring Agency, Crisil Ratings Limited, provides an objective view of how the IPO proceeds have been allocated in accordance with the objects of the issue as disclosed in the offer document.
Key Fund Utilization Details
The report indicates that the utilization of IPO proceeds aligns with the disclosures made in the offer document. Specifically, the funds have been allocated towards the repayment of loans, meeting working capital requirements, and general corporate purposes. The report confirms that all utilization is as per the disclosures in the Offer Document.
Financial Progress
The total Gross Proceeds from the Fresh Issue amounted to Rs 16,680.18 lakh, with issue expenses totaling Rs 1,751.07 lakh. This resulted in Net Proceeds of Rs 14,929.11 lakh. The monitoring agency has reviewed the utilization against the objects, which include repayment of borrowings, capital expenditure for systems and hardware, working capital requirements, and general corporate purposes.
Status of Objects
For the quarter ended September 30, 2026, the total utilized amount for the identified objects was Rs 11,572.07 lakh, with Rs 5,108.11 lakh remaining unutilized. The report details the progress for each object, such as the full utilization for loan repayment, partial utilization for working capital, and investment in a subsidiary for general corporate purposes. Unutilized proceeds have been invested in fixed deposits and a public offer account.
No Deviation Noted
The Monitoring Agency Report explicitly states that there have been no deviations from the stated objects or their utilization. All financial arrangements and approvals related to the objects are in place, and no unfavorable events affecting the viability of the objects have been identified. The report confirms that shareholder approval has been obtained, and the means of finance for the disclosed objects have not changed.
Source: BSE
