Dhoot Transmission Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. This report details the utilization of funds raised through its Initial Public Offering (IPO). The report, issued by CARE Ratings Limited, has been reviewed by the company’s Audit Committee and Board of Directors. It confirms that the proceeds have been utilized appropriately for the objects mentioned in the offer document.
Monitoring Agency Report Submitted for Q2 FY27
Dhoot Transmission Limited has officially submitted its Monitoring Agency Report for the quarter concluding on September 30, 2026. This report, prepared by CARE Ratings Limited in its capacity as the Monitoring Agency, provides an overview of how the proceeds from the company’s Initial Public Offering (IPO) have been utilized. The total IPO size was ₹1400 crore, with an additional ₹1666.98 crore from other sources.
Utilization of Funds
The report details the deployment of funds across various objects, including the repayment or pre-payment of outstanding borrowings, investment in subsidiaries for similar purposes, and setting up new manufacturing facilities. For the quarter ended September 30, 2026, the company utilized ₹835.2 crore of the IPO proceeds, with ₹564.8 crore remaining unutilized. The major utilization categories include repayment of borrowings (₹464.8 crore) and investments in subsidiaries (₹301.8 crore).
Specifically, the company has reported that the funds received from the IPO proceeds were utilized towards repayments of debt as per the objects of the issue. Similarly, IPO proceeds were infused into subsidiaries and utilized towards repayment/prepayment of their borrowings. The establishment of a new wiring harness manufacturing plant also saw utilization of ₹13.1 crore during the quarter.
Status of Objects and Deviations
As of September 30, 2026, the utilization of IPO proceeds is reported to be consistent with the disclosures made in the Offer Document. There are no deviations observed from the expenditure disclosed in the Offer Document, and the means of finance for the disclosed objects have not changed. The report confirms that there are no events affecting the viability of these objects, and all necessary government/statutory approvals have been obtained.
The report also notes that funding inorganic growth through unidentified acquisitions and general corporate purposes remains unutilized till Q2FY27. Offer-related expenses amounting to ₹73.0 crore have been apportioned to the fresh issue and utilized towards reimbursement of issue expenses.
Board and Audit Committee Review
The Monitoring Agency Report was reviewed and taken on record by the Audit Committee and the Board of Directors of Dhoot Transmission Limited on November 3, 2026. This submission fulfills the company’s regulatory obligations concerning the monitoring of IPO proceeds as per SEBI regulations.
Source: BSE
