Balu Forge Industries Limited has received its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by Infomerics Valuation and Rating Pvt. Ltd., confirms that the utilization of funds raised from a preferential issue has been in line with the objects disclosed in the offer document. The Audit Committee and the Board of Directors have reviewed and approved this report, indicating adherence to regulatory requirements and transparency in fund deployment.
Monitoring Agency Report Filed for Q1 FY27
Balu Forge Industries Limited has submitted its Monitoring Agency Report for the quarter concluding on June 30, 2026. This report, prepared in accordance with Regulation 32 of the SEBI (LODR) Regulations, 2015, details the utilization of proceeds from the company’s preferential issue.
Infomerics Valuation and Rating Confirms Compliance
The report has been issued by Infomerics Valuation and Rating Pvt. Ltd., the appointed Monitoring Agency. According to the findings, the utilization of funds has been strictly as per the disclosure made in the offer document. There have been no deviations observed in the application of funds towards the earmarked objects.
Board and Audit Committee Approval
The Monitoring Agency Report was duly reviewed and approved by the company’s Audit Committee Meeting and the subsequent Board Meeting, both held on August 14, 2026. This signifies the company’s commitment to transparency and regulatory compliance regarding the deployment of funds raised through the preferential issue.
Issue Details
The preferential issue involved equity shares and convertible warrants with a total issue size of Rs. 496.80 crores. This includes the allotment of 45.00 Lakhs Equity Shares under private placement and the offer of 93,00,000 warrants convertible into equity shares.
Object Utilization
The primary objects for which the funds were raised include:
- Purchase & installation of new & existing plant & machinery (Original cost: Rs. 189.00 crore)
- Working capital requirement (Original cost: Rs. 183.60 crore)
- General corporate purpose (Original cost: Rs. 124.20 crore)
The report indicates that the funds raised were used for these purposes, with all objects being completed within the stipulated timelines as per the offer document, and no delay was observed in their implementation.
Source: BSE
