Ethos Limited has released its monitoring agency report for the quarter ended December 31, 2025, regarding the utilization of proceeds from its Qualified Institutional Placement (QIP). The report confirms that the entire QIP proceeds have been fully utilized as of December 31, 2025, in accordance with the intended purposes outlined in the placement document. The monitoring was conducted by CRISIL Ratings Limited.
QIP Proceeds Update
Ethos Limited has confirmed the full utilization of the net proceeds from its Qualified Institutional Placement (QIP) as of December 31, 2025. The monitoring agency, CRISIL Ratings Limited, has issued a report stating that the proceeds have been used as per the objectives disclosed in the placement document.
Utilization Details
The proceeds were allocated to the following key areas:
- Funding working capital requirements: Rs 13,125.00 lakh
- General Corporate Purposes (GCP): Rs 3,834.64 lakh
No deviations were observed in the utilization of funds, and all activities are aligned with the company’s strategic objectives. All government and statutory approvals related to the objects have been obtained.
Monitoring Agency Conclusion
CRISIL Ratings Limited, the monitoring agency, confirms that as of December 31, 2025, the allocated funds for both funding working capital requirements and general corporate purposes have been fully utilized. This marks the completion of the monitoring process for the QIP proceeds.
Source: BSE
