Asahi India Glass Limited has released its Monitoring Agency Report for the quarter ended September 30, 2025. The report, issued by CARE Ratings Limited, pertains to the Qualified Institutions Placement (QIP) of equity shares. According to the monitoring report, the utilization of funds is in line with the objects of the issue, with no deviations noted. Approximately ₹251.36 crore has been utilized till September 30, 2025.
QIP Fund Utilization
Asahi India Glass Limited’s monitoring agency, CARE Ratings Limited, confirms the utilization of funds raised through the Qualified Institutions Placement (QIP) is aligned with the stated objectives. The report covers the period ending September 30, 2025.
Key Highlights from the Monitoring Report
- No deviations were observed from the intended use of the QIP proceeds.
- As of September 30, 2025, approximately ₹251.36 crore has been utilized.
- The utilized amount has been allocated towards:
₹58.75 crore towards repayment of term loans from Axis Bank and IDFC Bank.
₹192.00 crore towards repayment of Working Capital Demand Loans (WCDL) from Axis, MUFG and Yes Bank.
₹0.61 crore towards issue-related expenses.
Unutilized Funds and Deployment
As of the end of Q2 FY26, the company had unutilized funds amounting to ₹748.64 crore. These funds have been deployed in the following instruments:
Fixed Deposit, Axis Bank: ₹325.00 crore
Fixed Deposit, Yes Bank: ₹112.50 crore
CC Account, Bank of Baroda: ₹137.50 crore
Monitoring Account, Axis Bank: ₹172.64 crore
Monitoring Account, Yes Bank: ₹1.00 crore
Source: BSE
