Inox Green Energy Services Limited has released its Monitoring Agency Report for the quarter ended March 31, 2026. The report details the utilization of proceeds from its ₹1,050 crore preferential issue, of which ₹966.30 crore has been received to date. The company reports nil deviation in object utilization, with funds allocated toward debt repayment, subsidiary investments, and general corporate purposes, while unutilized proceeds remain safely deployed in scheduled commercial bank deposits.
Utilization of Preferential Issue Proceeds
As of March 31, 2026, Inox Green Energy Services Limited has received ₹966.30 crore from its total preferential issue size of ₹1,050 crore. The company has confirmed that there are no deviations in the objects or purposes for which these funds were raised, maintaining transparency in its financial operations.
Financial Allocation and Progress
The company has provided a clear breakdown of the utilization of funds across three primary heads:
- Debt Repayment: An allocation of ₹109.64 crore has been utilized for the repayment and pre-payment of debt, including the redemption of non-convertible debentures.
- Investment in Subsidiaries: Out of a revised allocation of ₹621 crore, the company has deployed ₹447.20 crore to support subsidiary projects. Notably, ₹1.37 crore was utilized during Q4-FY26 for advisory services through its subsidiary, Tempest Wind Energy Private Limited.
- General Corporate Purposes: An amount of ₹235.66 crore is earmarked for ongoing corporate exigencies, with ₹56.64 crore utilized as of the end of the quarter.
Management of Unutilized Funds
The total unutilized amount currently stands at ₹352.82 crore. To ensure capital preservation and steady returns, these proceeds are currently parked in high-security term deposits with ICICI Bank. These investments are yielding returns ranging from 2.75% to 5.25% per annum, with maturity dates scheduled throughout April 2026.
Operational Adjustments
The company adjusted its object costs following the cancellation of 7,696,206 warrants on January 28, 2026, due to the non-exercise of the conversion option. This resulted in a reduction of ₹83.70 crore in expected proceeds, leading to a reallocation of funds. The Board has confirmed that these changes are within the approved parameters and that all projects remain on track with no reported implementation delays.
Source: BSE
