Afcons Infrastructure confirms the utilization of funds raised through its IPO. A monitoring agency report by Crisil Ratings Limited verifies that the proceeds are being used as disclosed in the offer document. The report covers the quarter ended September 30, 2025, and indicates adherence to the intended allocation plan. The company has successfully deployed the raised capital towards its stated objectives, including capital expenditure and working capital requirements.
IPO Proceeds Utilization
Afcons Infrastructure has received a report from Crisil Ratings Limited, the monitoring agency, confirming that the proceeds from its Initial Public Offering (IPO) are being utilized as planned. The report, dated November 12, 2025, covers the period ending September 30, 2025. This ensures transparency and alignment with the company’s stated goals.
Key Areas of Deployment
The IPO proceeds are directed toward several key areas, supporting Afcons Infrastructure’s growth strategy:
- Capital expenditure towards the purchase of construction equipment.
- Funding long-term working capital requirements.
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances.
- General corporate purposes.
Financial Overview
The gross proceeds from the fresh issue amounted to ₹12,500 million. After deducting issue expenses of ₹353.63 million, the net proceeds totaled ₹12,146.37 million. During the quarter, proceeds amounting to ₹168.84 million were transferred to other company accounts for capital expenditure. As of September 30, 2025, a minimal amount of ₹0.69 million remains unutilized, designated for issue-related expenses.
Compliance and Monitoring
The monitoring agency’s report provides assurance that Afcons Infrastructure is adhering to the planned utilization of IPO proceeds, promoting investor confidence. All deployments have been verified against the offer document.
Source: BSE
