Manorama Industries Limited has submitted its Monitoring Agency Report, prepared by Crisil Ratings Limited, detailing the utilization of funds raised through its Qualified Institutions Placement (QIP). The report covers the quarter ended September 30, 2026. The company confirms that the proceeds were utilized towards funding working capital requirements and general corporate purposes, as disclosed in the offer document.
QIP Proceeds Utilization Report Submitted
Manorama Industries Limited has officially communicated its Monitoring Agency Report for the quarter ended September 30, 2026. This report, prepared by Crisil Ratings Limited, the appointed Monitoring Agency, details the utilization of funds raised through the company’s Qualified Institutions Placement (QIP).
Funding Working Capital and Corporate Purposes
As per the report, the proceeds from the QIP were utilized towards funding working capital requirements of the Company and for general corporate purposes. The total amount proposed for these objectives was Rs 48,539.81 lakhs. The report indicates that Rs 40,000.00 lakhs were allocated for working capital, and Rs 8,539.81 lakhs for general corporate purposes.
During the quarter, Rs 15,000.00 lakhs were utilized for working capital needs, leaving an unutilized amount of Rs 25,000.00 lakhs in this category. For general corporate purposes, no utilization was reported during the specified quarter, with the entire Rs 8,539.81 lakhs remaining unutilized. The total utilized amount for the quarter was Rs 15,000.00 lakhs, and the total unutilized amount stood at Rs 33,539.81 lakhs.
Unutilized Proceeds Deployment
The unutilized proceeds have been deployed in fixed deposits with various banks. Notably, Rs 5,000.00 lakhs are invested in fixed deposits with Yes Bank, earning an annual return of 7.15%, and the remaining Rs 28,539.81 lakhs are invested in fixed deposits with Bank of India, also yielding 7.00% annually. The total amount invested in fixed deposits is Rs 33,539.81 lakhs, with a total earnings of Rs 550.20 lakhs as of September 30, 2026.
Compliance and Declarations
The report confirms that all utilization is in line with the disclosures made in the Offer Document. Crisil Ratings Limited, as the Monitoring Agency, has reviewed the information provided by the issuer and other sources believed to be accurate. The agency’s report does not constitute an audit or independent verification of information and does not create any legally binding obligations.
Source: BSE
