Eternal Limited (formerly Zomato Limited) has released the Monitoring Agency report for the quarter ending March 31, 2026. The report confirms that the utilization of INR 8,436.12 crore raised through a Qualified Institutional Placement is in line with the objects stated in the offer document. With no deviations observed in project implementation or fund deployment, the company remains on schedule to utilize proceeds for core business infrastructure, technology, and branding through FY28.
Utilization of QIP Proceeds
The monitoring process, conducted by ICRA Limited, confirms that there have been no deviations in the utilization of the INR 8,436.12 crore in net proceeds raised by the company. All funds are being deployed according to the objectives outlined in the original placement document, with clear oversight provided by the statutory auditors and management certifications.
Strategic Allocation of Funds
The company has allocated the capital across four primary pillars to drive long-term growth:
- Dark Stores and Warehouses: A total of INR 2,137.00 crore is dedicated to setting up and running operations.
- Advertising and Marketing: INR 2,492.00 crore is earmarked for brand initiatives across all business lines.
- Technology Infrastructure: INR 1,769.00 crore is being invested in cloud capabilities, software development, and technological advancement.
- General Corporate Purposes: INR 2,038.12 crore has been allocated to support broader operational and employee-related expenses.
Progress and Financial Deployment
As of the end of the quarter, the company has successfully utilized INR 5,599.08 crore of the total proceeds. The remaining unutilized funds, amounting to INR 2,837.04 crore, are currently deployed in low-risk financial instruments, including fixed deposits and liquid funds, generating returns to optimize treasury management while awaiting deployment.
Implementation Schedule
All projects, including the expansion of dark stores and technological upgrades, remain on schedule. The current roadmap for the utilization of these funds extends through FY28, with the company maintaining its commitment to the predefined investment objectives without any reported delays or changes in project viability.
Source: BSE
