Afcons Infrastructure Limited has submitted the Final Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of proceeds from its Initial Public Offer (IPO). The report confirms that the total gross proceeds of Rs 12,500.00 million have been fully utilized across all stated objects. The monitoring agency, Crisil Ratings Limited, verified that utilization aligns with the offer document disclosures, with no deviations noted.
Afcons Infrastructure: Final IPO Proceeds Utilization Report Submission
Afcons Infrastructure Limited communicated the Final Monitoring Agency Report to the stock exchanges, detailing the utilization of funds raised through its Initial Public Offer (IPO). This report covers the period ending December 31, 2025, as required by applicable regulatory frameworks.
Key Financial Summary of Proceeds
The total funds raised and the utilization details are summarized below, based on the monitoring report:
- Gross Proceeds of Fresh Issue: Rs 12,500.00 million.
- Net Proceeds: Rs 12,146.37 million (after deducting issue expenses).
- The monitoring confirmed that the entire Rs 12,500.00 million of gross proceeds has been utilized as of December 31, 2025.
Utilization of Funds Across Objects
The monitoring agency confirmed that utilization across all major objects was in line with the Offer Document. Key utilization statuses as of the quarter end include:
- Capital Expenditure for Construction Equipment: Fully utilized by September 30, 2025.
- Funding Long-term Working Capital: Fully utilized by December 31, 2024.
- Prepayment/Scheduled Repayment of Borrowings: Fully utilized by December 31, 2024.
- General Corporate Purposes: Fully utilized by March 31, 2025. (Note: This utilization did not exceed the 25% limit of Gross Proceeds, amounting to Rs 3,125.00 million).
- Expenses related to the Fresh Issue: Fully utilized by the quarter end. A cumulative utilization of Rs 0.69 million was reported during the quarter for these expenses.
Monitoring Agency Findings
The report, issued by Crisil Ratings Limited, confirmed the following:
The monitoring agency found no material deviations regarding the utilization of proceeds when compared to the disclosures made in the Offer Document. Specifically, responses to key compliance questions, such as changes in the means of finance or required government approvals, were confirmed as “Yes” or “NA” (Not Applicable) with “No Comments” recorded from the Monitoring Agency and the Board of Directors.
Furthermore, the report confirms there were no unutilized proceeds deployed in investments, and no delays were observed in the implementation of the defined objects as of December 31, 2025.
Source: BSE
