Prestige Estates Projects has released a monitoring agency report confirming that the utilization of proceeds from its Qualified Institutional Placement (QIP) is fully aligned with the stated objectives. The report, issued by ICRA Limited for the quarter ended December 31, 2025, indicates no deviations in the allocation of funds. This affirms the company’s commitment to utilizing the QIP proceeds as intended, reinforcing investor confidence.
QIP Proceeds Utilization
Prestige Estates Projects has confirmed that the monitoring agency’s report, provided by ICRA Limited, shows there have been no deviations in the utilization of funds raised through its Qualified Institutional Placement (QIP). The report covers the quarter ending December 31, 2025.
Key Highlights from the Monitoring Report
The monitoring agency, ICRA Limited, stated that the utilization of the issuance proceeds aligns with the company’s outlined objectives. As of December 31, 2025, the net proceeds have been revised to INR 4899.17 Crore due to an increase in actual issue-related expenses (IRE) by INR 1.43 Crore.
Details of Arrangement and Monitoring
The monitoring report outlines the allocation of the QIP proceeds across various objectives:
- Repayment/prepayment of outstanding borrowings: INR 1500 Crore
- Acquisition of land or land development rights: INR 1000 Crore
- Investment in Subsidiaries and Joint Ventures for funding ongoing projects: INR 1250 Crore
- General Corporate Purpose: INR 1149.17 Crore
Deployment of Unutilized Proceeds
The unutilized proceeds have been deployed in fixed deposits with various banks, including ICICI Bank and SBI Bank, with maturity dates ranging from January 2026 to March 2026. The return on investment (ROI) for these deposits ranges from 5.10% to 5.25%.
Source: BSE
