Zen Technologies Limited has released its monitoring agency report regarding the utilization of proceeds from its Qualified Institutional Placement (QIP) for the quarter ended March 31, 2026. The report confirms that the company is effectively deploying funds across its core objectives, including working capital requirements, inorganic growth initiatives, and general corporate purposes, maintaining a transparent financial record for its stakeholders and investors.
Financial Progress and Fund Utilization
As of the quarter ended March 31, 2026, Zen Technologies has maintained a clear path in the deployment of its QIP proceeds. The company, which operates in the aerospace and defence sector, successfully raised gross proceeds of ₹1,00,000.00 lakhs, with revised net proceeds of ₹97,950.77 lakhs currently under monitoring. By the end of this quarter, a total of ₹70,376.01 lakhs had been utilized.
Strategic Deployment of Capital
The company has allocated funds across three primary pillars to drive long-term value:
- Working Capital Requirements: Virtually the entire allocated ₹41,000.00 lakhs has been utilized, primarily for the purchase of raw materials to support ongoing operations.
- Inorganic Growth: Out of the ₹35,000.00 lakhs earmarked for strategic acquisitions, ₹17,141.99 lakhs has been deployed, leaving a balance of ₹17,858.01 lakhs for future expansion opportunities.
- General Corporate Purposes (GCP): A sum of ₹12,234.02 lakhs has been utilized, including expenditures for capital assets like computers, machinery, logistics, and advisory services.
Management of Surplus Funds
To ensure optimal returns on unutilized proceeds, the company has prudently deployed the remaining balance of ₹27,574.76 lakhs in fixed deposits across ICICI Bank and Axis Bank. These investments are yielding stable returns, ensuring that the company’s capital remains productive while waiting to be deployed for its core strategic objectives. The company confirms that all utilized funds remain fully consistent with the disclosures made in the original offer document.
Source: BSE
