Info Edge (India) Limited has formally stated that there has been no deviation or variation in the utilization of funds raised through its Qualified Institutional Placement (QIP) in FY 2020-21. This confirmation pertains to the quarter ended September 30, 2026, and has been reviewed by the Audit Committee and noted by the Board of Directors. The company provided this statement in compliance with regulatory requirements, assuring stakeholders of transparent fund management.
No Deviation in QIP Fund Utilization
Info Edge (India) Limited has submitted its statement regarding the utilization of funds raised via Qualified Institutional Placement (QIP). The company confirmed that there has been no deviation or variation in how these funds, originally raised in FY 2020-21, have been used during the quarter ending September 30, 2026. This disclosure is made in accordance with the SEBI Listing Regulations.
Board and Audit Committee Review
The statement of NIL deviation or variation in the utilization of QIP proceeds for the specified quarter has undergone thorough review. It was examined by the company’s Audit Committee and subsequently noted by the Board of Directors. Both committees acknowledged the findings during their respective meetings held on October 28, 2026. The company has requested that this information be taken on record.
Financial Details of QIP
The QIP was conducted on August 8, 2020, resulting in the raising of Rs. 18,750 Mn. As of the quarter ending September 30, 2026, the utilized funds amounted to Rs. 8,508.07 Mn. The original allocation was Rs. 18,290.32 Mn, with no modified allocation reported. The net proceeds, after accounting for expenses of Rs. 459.68 Mn, reflect the company’s prudent financial management in deploying capital for its business activities and general corporate purposes.
Source: BSE
