Craftsman Automation Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report details the utilization of funds raised through its Qualified Institutions Placement (QIP). The proceeds were primarily used for the repayment of outstanding borrowings, general corporate purposes, and issue expenses, aligning with the disclosures made in the offer document. The company has confirmed no deviation from the objects of the issue.
Monitoring Agency Report for QIP Fund Utilization
Craftsman Automation Limited has officially filed its Monitoring Agency Report for the quarter concluding on June 30, 2026. This report, mandated by SEBI regulations, outlines the deployment of funds raised from the company’s Qualified Institutions Placement (QIP).
Fund Utilization Details
As per the report issued by CRISIL Ratings Limited, the Monitoring Agency, the utilization of QIP proceeds has been in line with the objects outlined in the offer document. The primary uses of the funds include:
- Repayment/Pre-payment of Borrowings: A significant portion of the proceeds, amounting to ₹1,03,024.41 lakhs, has been allocated towards the repayment or pre-payment of outstanding borrowings.
- General Corporate Purposes: Funds amounting to ₹2,904.17 lakhs have been utilized for general corporate purposes, including operational payments and lease for land. This utilization is within the 25% limit of the Gross Proceeds as stipulated.
- Issue Expenses: A sum of ₹2,863.57 lakhs has been used to cover issue expenses, such as merchant banker fees and other related costs.
The total utilized amount for the quarter stands at ₹1,08,792.16 lakhs, with a remaining unutilized amount of ₹91,207.79 lakhs.
Compliance and Declarations
The report confirms that all utilization is as per the disclosures in the Offer Document. There have been no deviations from the stated objects of the issue. Craftsman Automation Limited, through its management, has provided undertakings and certificates from an Independent Chartered Accountant to support the information presented in the report.
Source: BSE
