Grasim Industries has released its Monitoring Agency Report for the quarter ended September 30, 2025, concerning the utilization of funds from its Rights Issue. The report, issued by CARE Ratings Limited, confirms that there have been no deviations in the utilization of these funds. The rights issue, which concluded in January 2024, aimed to raise ₹3,999.80 crore.
Rights Issue Fund Utilization
Grasim Industries confirms that the proceeds from its rights issue have been utilized as per the offer document. The rights issue, which closed on January 29, 2024, offered equity shares at ₹1,812 per share, raising a total of ₹3,999.80 crore. CARE Ratings Limited, the monitoring agency, indicates that the funds were allocated appropriately.
Details of Fund Allocation
The majority of the funds, amounting to ₹2,999.9981 crore, were used for the repayment or prepayment of certain borrowings. A further ₹970.4635 crore was allocated to general corporate purposes, including the repayment of commercial paper amounting to ₹967.26 crore and employee salaries of ₹3.20 crore. As of the end of Q2 FY26, the balance in the monitoring bank account stood at ₹0.41 crore.
No Major Deviations
There have been no major deviations observed in the utilization of funds as compared to earlier reports, and no government or statutory approvals are pending.
Monitoring Agency’s Opinion
CARE Ratings Limited states that the report provides an objective view of the utilization of issue proceeds and confirms that there is no conflict of interest in their role as the monitoring agency. The company has reported a loss of ₹118.18 crore in Q1 FY26 on a standalone basis.
Source: BSE
