Godawari Power and Ispat Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CARE Ratings Limited, details the utilization of proceeds raised through a preferential issue aggregating Rs. 500.00 crore. The company has confirmed that the utilization of funds is in line with the disclosures made in the offer document and that there were no adverse deviations observed during the quarter.
Monitoring Agency Report Filed for Preferential Issue
Godawari Power and Ispat Limited has officially submitted its Monitoring Agency Report to the stock exchanges for the quarter that concluded on September 30, 2026. This report is a mandatory regulatory filing as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Key Findings of the Report
The report, prepared by CARE Ratings Limited, focuses on the utilization of funds raised from the company’s preferential issue. The total issue size aggregated to Rs. 500.00 crore. According to the Monitoring Agency’s assessment, the utilization of these proceeds during the quarter was in accordance with the disclosures made in the offer document. Specifically, the report indicates that there were no adverse observations or deviations noted in the utilization of funds during the period. The report also confirms that shareholder approval for any material deviations has been obtained and that the means of finance for the disclosed objects of the issue have not changed.
Details on Fund Utilization
The report details the utilization across three primary objects: Project Funding (Rs. 200.00 crore), Investment in BESS Projects (Rs. 175.00 crore), and General Corporate Purposes (Rs. 125.00 crore). As of September 30, 2026, the total amount utilized was Rs. 175.22 crore, with a remaining unutilized amount of Rs. 0.008 crore. The utilization for Project Funding was Rs. 0.22 crore, for Investment in BESS Projects it was Rs. 175.00 crore, and for General Corporate Purposes, it was Rs. 0.00 crore. The majority of the utilization was observed in the ‘Investment in BESS Projects’ category.
Arrangements for Monitoring
The company has put in place arrangements to ensure the monitoring of issue proceeds, including obtaining necessary certificates and management declarations. The report also addresses the completion status of the objects, with ‘Investment in BESS Projects’ being completed and ‘Project Funding’ and ‘General Corporate Purposes’ noted as ongoing. There were no significant delays reported in the implementation of these objects.
Source: BSE
