Inox Green Energy Services Limited has submitted its Monitoring Agency Reports for the quarter ended September 30, 2026. These reports detail the utilization of proceeds raised through a Preferential Issue of equity shares and warrants, and a Qualified Institutions Placement (QIP). The reports were issued by CARE Ratings Limited and have been reviewed by the company’s Audit Committee and Board of Directors.
Submission of Monitoring Agency Reports
Inox Green Energy Services Limited has officially submitted its Monitoring Agency Reports for the quarter that concluded on September 30, 2026. These reports are crucial for demonstrating the proper utilization of funds raised from significant corporate finance activities.
Details of the Reports
The submitted documents pertain to two key fundraising events:
- Preferential Issue of Equity Shares and Warrants: The Monitoring Agency Report, dated November 13, 2026, was prepared by CARE Ratings Limited. This report confirms the utilization of proceeds as per the requirements under Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
- Qualified Institutions Placement (QIP) of Equity Shares: The Monitoring Agency Report, dated November 14, 2026, also from CARE Ratings Limited, addresses the utilization of funds from the QIP. This report aligns with Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Review and Approval
Both Monitoring Agency Reports underwent a thorough review by the company’s Audit Committee. Subsequently, the Board of Directors formally took these reports on record during their respective meetings held on November 13, 2026. The company has requested the stock exchanges to take this submission on record.
Preferential Issue Details
The monitoring report for the preferential issue, which aggregated to Rs. 1050 crore, indicates that the proceeds have been partially utilized, with the unutilized amount parked in scheduled commercial banks and monitoring accounts. A revision in the total cost from Rs. 1050 crore to Rs. 966.30 crore was noted, primarily due to the cancellation of warrants leading to a shortfall of Rs. 83.70 crore. Utilization is reported to be as per the offer document, with changes in the means of finance and cost of objects addressed and approved.
QIP Details
For the QIP of Rs. 300 crore, the report states that the proceeds were not available for utilization during the quarter ended September 30, 2026. Consequently, no amount was utilized within that quarter, and there was no deviation from the objects stated in the placement document. The Board, based on CFO certificate and draft Monitoring Agency Report, noted that no utilization had occurred and hence no deviations were observed.
Source: BSE
