Asahi India Glass Limited’s Monitoring Agency Report for the quarter ended September 30, 2025, reveals that funds raised through qualified institutions placement are being utilized as per the offer document. The company has deployed ₹58.75 crore towards repayment of term loans and ₹192.00 crore towards working capital demand loans during the quarter. No material deviations were noted.
Q2 Fund Utilization
The Monitoring Agency Report confirms that Asahi India Glass Limited (AIS) is appropriately utilizing the proceeds from its Qualified Institutions Placement (QIP). The report, issued by CARE Ratings Limited, covers the period ending September 30, 2025 (Q2 FY26). The funds are allocated towards the company’s stated objectives without any deviations.
Key Highlights from the Report
During Q2 FY26, AIS utilized ₹58.75 crore for the repayment of term loans from Axis Bank and IDFC Bank. Another ₹192.00 crore was allocated to repay Working Capital Demand Loans (WCDL) from Axis, MUFG, and Yes Bank. Additionally, ₹0.61 crore was used for issue-related expenses, ensuring compliance with the intended use of funds as outlined in the offer document.
Unutilized Funds
As of the quarter’s end, a total of ₹748.64 crore remains unutilized. These funds are primarily held in fixed deposits with Axis Bank and Yes Bank, as well as in monitoring accounts. The company intends to deploy these remaining funds in accordance with the objectives stated in the placement document.
No Material Deviations
The report indicates that there have been no material deviations from the originally planned use of proceeds. All government and statutory approvals related to the company’s objectives have been obtained. The monitoring agency has found no conflicts of interest in their assessment.
Source: BSE
