Inox Wind Limited has submitted the Monitoring Agency Report concerning the utilization of proceeds from its Rights Issue, covering the quarter ended December 31, 2025. The report confirms that utilization aligns with the Offer Document disclosures. A total of Rs. 1249.33 crore was raised, with Rs. 1199.25 crore utilized. The unutilized balance of Rs. 50.07 crore has been parked in term deposits, and all major objects remain on track for their planned completion timelines.
Monitoring Agency Submission for Rights Issue Proceeds
Inox Wind Limited has officially communicated the Monitoring Agency Report for the quarter that concluded on December 31, 2025. This submission, made to the stock exchanges, adheres to applicable regulatory requirements regarding the monitoring of funds raised through the recent Rights Issue.
Status of Proceeds Utilization
The total proceeds raised via the Rights Issue amounted to Rs. 1249.33 crore. As of the end of the quarter, the cumulative utilization stood at Rs. 1199.25 crore, leaving a total unutilized amount of Rs. 50.07 crore. The Monitoring Agency confirmed that all utilization for the period under review was in alignment with the disclosures made in the Offer Document.
Deployment of Unutilized Funds
The unutilized balance of Rs. 50.07 crore has been strategically deployed by parking it in Term Deposits with IndusInd Bank, maturing on February 22, 2026, earning a return of 6.35%. This interim parking ensures the funds remain secure while awaiting deployment for the remaining objects.
Utilization Against Stated Objects
The report details the progress against the four main objects:
- Repayment of Preference Shares: The full proposed amount of Rs. 560.00 crore was utilized during the quarter ended December 31, 2025, resulting in zero unutilized amount for this specific head. The completion date of August 25, 2025, was met ahead of the Offer Document timeline of March 31, 2026.
- Prepayment of Borrowings: The entire allocated amount of Rs. 159.00 crore has been utilized. This object was completed by September 15, 2025, also ahead of schedule.
- Investment in IRSL: Out of the proposed Rs. 250.00 crore, Rs. 200.00 crore has been utilized, leaving Rs. 50.00 crore unutilized. The completion status is marked as Ongoing, with the Board noting the funds will be utilized within the timeline.
- General Corporate Purposes (GCP): Out of the planned Rs. 273.70 crore, Rs. 273.65 crore has been utilized, with only Rs. 0.05 crore remaining. The Board confirmed that the utilization under GCP is in line with the objects.
General Compliance and Deviations
The Monitoring Agency noted No deviation over earlier reports, and confirmed that no material changes to the financing means or objects were observed. The Board of Directors acknowledged the report, confirming that all utilization is in accordance with the Offer Document based on certificates from the Independent Chartered Accountant and Chief Financial Officer.
Source: BSE
