Tilaknagar Industries Limited has submitted the Monitoring Agency Report for the quarter ending December 31, 2025, concerning the utilization of funds raised through a Preferential Issue of equity shares and warrants. The report confirms that all proceeds were utilized as disclosed, primarily for the Acquisition of Brand (₹1,296.78 crore) and Working Capital needs. A total of ₹1,701.82 crore has been utilized against the gross proceeds of ₹2,295.63 crore as of the quarter end.
Compliance Review of Preferential Issue Proceeds
Tilaknagar Industries Limited has disclosed the Monitoring Agency Report issued by CRISIL Ratings Limited, reviewing the utilization of funds raised via its recent Preferential Issue of equity shares and convertible warrants. This compliance report covers the period ending December 31, 2025.
Key Findings on Fund Utilization
The Monitoring Agency confirmed that the utilization of proceeds aligns with the objects disclosed in the Offer Document. The total utilization reported as of the end of the quarter was ₹1,701.82 crore out of the gross proceeds of ₹2,295.63 crore.
Object-Wise Utilization Summary (in ₹ crore)
- Acquisition of Brand: ₹1,296.78 crore has been utilized out of the allocated ₹1,300.00 crore, leaving a balance of ₹3.22 crore. The acquisition of the Imperial Blue business division has been completed.
- Working Capital: ₹290.82 crore was utilized during the quarter, bringing the total utilization for this purpose to ₹290.82 crore, with ₹209.18 crore remaining unutilized.
- General Corporate Purposes: The full allocated amount of ₹495.63 crore has been utilized. This utilization covered processing fees (₹38.59 crore), hedging costs, insurance, stamp duty for brand acquisition (₹15.00 crore), and advisory charges.
Unutilized Proceeds Deployment
The total unutilized proceeds amounting to ₹593.81 crore, as detailed on September 30, 2025, were deployed in various instruments for operational ease. The deployment included ₹310.77 crore in HDFC Overnight Fund Mutual Fund and ₹73.52 crore in a Fixed Deposit with ICICI Bank, yielding an investment return of 5.60% on that specific deposit. The agency confirmed no material deviation from the disclosed objects or implementation timelines was observed.
Source: BSE
