Enviro Infra Engineers Limited has submitted its Monitoring Agency Report to the National Stock Exchange of India and BSE Limited. The report, issued by CRISIL RATINGS LIMITED, details the utilization of Initial Public Offer (IPO) proceeds for the quarter and half-year ended September 30, 2026. A significant note indicates a reallocation of proceeds, approved by shareholders, aligning with new project objectives under the Namami Gange Programme.
Monitoring Agency Report Submitted
Enviro Infra Engineers Limited has officially submitted its Monitoring Agency Report concerning the utilization of funds raised through its Initial Public Offer (IPO). This report, covering the quarter and half-year ended September 30, 2026, has been sent to both the National Stock Exchange of India Limited and BSE Limited.
Proceeds Utilization Details
The report, prepared by CRISIL RATINGS LIMITED, provides an objective view of how the IPO proceeds have been utilized against the stated objects of the issue. A key aspect highlighted is the shareholder-approved reallocation of funds, amounting to ₹4,445.57 lakhs. This reallocation was necessary due to the absence of identified inorganic acquisition opportunities and a surplus from issue expenses. The reallocated funds are directed towards the infusion into two subsidiaries for the construction of 45 MLD and 60 MLD STPs under the Namami Gange Programme, including a 15-year Operation and Maintenance period.
Object-wise Utilization
Key objects monitored and their utilization include:
- Working Capital Requirements: Original cost ₹18,100.00 lakhs, utilized ₹18,099.07 lakhs, with ₹0.93 lakhs unutilized at the beginning of the quarter. The total utilized amount stands at ₹18,100.00 lakhs.
- Infusion in Subsidiary (EIEL Mathura): Original cost ₹3,000.00 lakhs, fully utilized.
- Repayment of Borrowings: Original cost ₹12,000.00 lakhs, fully utilized as at quarter ended December 31, 2024.
- Funding Inorganic Growth and General Corporate Purposes: Original cost ₹18,627.25 lakhs, revised to ₹14,308.00 lakhs. A significant portion of ₹4,319.25 lakhs from this head was reallocated.
- Infusion in Subsidiaries (Varanasi DDU Nagar STP & Varanasi Lohta STP): Original cost ₹4,445.57 lakhs, with ₹0.49 lakhs utilized during the quarter, leaving ₹4,445.08 lakhs unutilized.
Financial Summary
The report indicates that Gross Proceeds were ₹57,234.96 lakhs, with Issue Expenses at ₹5,381.39 lakhs (revised from ₹5,507.71 lakhs). The Net Proceeds after revision stand at ₹51,853.57 lakhs. Total utilized amount across all objects as of September 30, 2026, is ₹47,408.50 lakhs, with ₹4,445.08 lakhs remaining unutilized.
Source: BSE
