Jupiter Wagons has received monitoring agency reports for the quarter ending September 30, 2025, related to its Qualified Institutional Placements (QIPs) and preferential issue of warrants. The reports, provided by Care Ratings Limited, indicate that proceeds from these issues have not been fully utilized as of the reporting period. The funds are earmarked for various purposes, including capacity enhancement, working capital, and inorganic growth. A revised object for capex was approved on April 18, 2025.
QIP and Warrant Monitoring
Monitoring agency reports have been issued for Jupiter Wagons concerning Qualified Institutional Placements (QIPs) and preferential warrant issues, with the review period ending on September 30, 2025. These reports, provided by Care Ratings Limited, assess the appropriate use and allocation of raised funds for specific corporate objectives.
Fund Utilization Status
The reports indicate that funds raised through QIPs, intended to enhance capacity at the Bandel foundry, have experienced delays in utilization. While ₹6.36 crore has been utilized, a substantial ₹43.64 crore remains unutilized. The reasons cited are delays, which led to a revised plan to utilise the unutilised idle QIP fund for the same, a revised plan to utilize the funds was approved by shareholders on April 18, 2025. There have been no utilizations for the reporting quarter.
Preferential Issue of Warrants
Funds raised through the preferential issue of warrants, intended for investment in a subsidiary namely, Jupiter Tatravagonka Railwheel Factory Pvt. Ltd, have been partially deployed. Of the ₹135 crore raised, ₹33.75 crore (25%) has been utilized, while the remaining balance is yet to be deployed.
Unutilized Funds Deployment
The company is holding unutilized funds in various fixed deposits with banks such as ICICI Bank, Federal Bank and Yes Bank and Kotak and SBI mutual funds. The total held in those deposits is ₹220.82 crore. After accounting for interest income of ₹21.86 crore, the unutilized amount is ₹198.96 crore.
Source: BSE
