Wockhardt Limited has released the Monitoring Agency Report for the quarter ended March 31, 2026. The report confirms that the company has adhered to the planned utilization of proceeds from its Qualified Institutions Placement (QIP). There have been no deviations from the objectives stated in the placement document. As of the end of the quarter, the company has utilized a total of Rs 815.46 crore out of the net proceeds of Rs 977.79 crore.
QIP Proceeds Utilization Overview
The Monitoring Agency report indicates that the utilization of funds from the Rs 977.79 crore (net) raised through the QIP is progressing as planned. As of March 31, 2026, Rs 815.46 crore has been successfully deployed toward the company’s stated financial objectives, leaving an unutilized balance of Rs 162.33 crore, which is currently deployed in mutual funds and bank accounts.
Breakdown of Fund Usage
The company has allocated the funds across three primary areas:
- Repayment of Borrowings: A total of Rs 500.00 crore was fully utilized for the repayment or pre-payment of debt.
- Capital Expenditure and R&D: Out of the Rs 250.00 crore allocated for capital expenditure and research development, Rs 87.67 crore has been utilized by the end of this quarter.
- General Corporate Purposes: The full amount of Rs 227.79 crore earmarked for general corporate purposes has been fully utilized.
Strategic Timeline Extension
Due to shifting business exigencies and ongoing project timelines, the Board of Directors passed a resolution on May 4, 2026, to extend the utilization period for the remaining funds allocated toward capital expenditure and research development. The company now plans to utilize these proceeds over the next two fiscal years, with a new completion target set for March 2028.
Source: BSE
