Afcons Infrastructure Limited has submitted its required statement confirming the utilization of proceeds raised from its Initial Public Offer (IPO). For the quarter ending December 31, 2025 (Q3 FY2026), the company confirmed no deviation or variation in the deployment of funds. Furthermore, there were no pending utilization balances remaining from the IPO proceeds as of that date, indicating full deployment according to the stated objects.
Confirmation of IPO Proceeds Utilization for Q3 FY2026
Afcons Infrastructure Limited has officially communicated its adherence to the utilization plan for the funds raised through its recent Initial Public Offer (IPO). This statement covers the period ending December 31, 2025.
The company confirmed to the stock exchanges that there was no deviation or variation observed in the deployment of the proceeds raised from the equity issuance. The reporting confirms compliance with regulatory requirements for the quarter.
Full Utilization Achieved
A key highlight of the statement is the confirmation that all issue proceeds raised via the IPO have been fully utilized by the company as per the objects detailed in the original offer document.
Specifically, the report states that as of the quarter ended December 31, 2025, there were no pending utilization balances left for the amounts raised.
IPO Details Summary
The equity shares of Afcons were listed on the stock exchanges effective November 4, 2024. The total amount raised through the Fresh Issue component of the IPO was ₹1,250 Crores. The monitoring agency responsible for overseeing the utilization was Crisil Ratings Limited. The submission confirms that the monitoring agency deemed the utilization Applicable.
Compliance Confirmation
The Audit Committee reviewed the utilization statement and provided No Comments. As no deviation or variation occurred, subsequent details regarding shareholder approval for changes, modified allocations, or utilized amounts against specific objects are marked as Not Applicable.
The statement was finalized and signed by Gaurang Parekh, Company Secretary and Compliance Officer, on February 10, 2026.
Source: BSE
