Data Patterns (India) Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by ICRA Limited. The report confirms that the utilization of funds raised through the Qualified Institutional Placement (QIP) is in line with the objects of the issue. This assurance is critical for investors, indicating transparent financial management and adherence to the company’s stated objectives.
Monitoring Agency Report Filed
Data Patterns (India) Limited has officially filed its Monitoring Agency Report for the quarter that concluded on June 30, 2026. The report, meticulously prepared by ICRA Limited, the appointed Monitoring Agency, serves to track the utilization of proceeds from the company’s Qualified Institutional Placement (QIP).
Assurance on Fund Utilization
A key finding highlighted in the report is that the utilization of the issued proceeds is consistent with the stated objects of the QIP. This means that the funds raised by Data Patterns (India) Limited have been deployed for the purposes originally disclosed to investors, reinforcing confidence in the company’s financial governance and strategic execution. The report, submitted to both the National Stock Exchange of India and BSE Limited, confirms no deviation from the planned use of funds.
Key Details of the QIP
The QIP issue itself was conducted between March 08, 2023, and March 14, 2023, with an issue size of INR 500.00 Crore. The net proceeds, after excluding issue-related expenses, amounted to INR 487.734 Crore. The allocated funds were intended for various purposes including working capital, investment in product development, repayment of borrowings, capital expenditure for an EMI-EMC Testing Facility, land acquisition, and general corporate purposes.
Detailed Progress on Objectives
The Monitoring Agency Report provides a detailed breakdown of the progress against each stated object. For instance, the funding working capital requirements saw an initial allocation of INR 168.000 Crore, with the full amount utilized by the end of the quarter. Similarly, investment in product development had an initial proposal of INR 167.238 Crore, with INR 142.590 Crore utilized by the end of Q1 FY2027, leaving an unutilized amount of INR 24.648 Crore. The report also tracks progress on other objectives such as repayment of borrowings, setting up the EMI-EMC Testing Facility, land acquisition, and general corporate purposes, all of which show adherence to their planned utilization timelines and amounts.
Deployment of Unutilized Proceeds
As of June 30, 2026, a portion of the unutilized proceeds has been parked in interest-bearing instruments. These include Term Deposits with Axis Bank and Fixed Deposits with HDFC Bank, along with the Monitoring Agency Bank Account. The total amount invested in these instruments was INR 28.91 Crore, yielding a modest return. The report also clarifies that there were no delays in the implementation of most objectives, with a few instances of delay noted for product development and the EMI-EMC Testing Facility, attributed to factors such as the planned expenditure timeline and utilization progress.
Source: BSE
