International Gemmological Institute (India) Limited’s Monitoring Agency Report for Q3 2025 indicates that the utilization of issuance proceeds is in line with the stated objectives. ICRA Limited, the monitoring agency, has prepared the report, confirming adherence to SEBI regulations. There were no material deviations observed in expenditures, and the company obtained necessary government approvals, including RBI approval for fund remittance. A total of ₹1,444.824 Crore was utilized until the end of the quarter.
Q3 2025 Monitoring Report Highlights
The monitoring agency, ICRA Limited, confirms that International Gemmological Institute (India) Limited’s use of funds from its IPO is aligned with the defined objectives. The final monitoring agency report is for the quarter ended September 30, 2025.
Key Observations
The report highlights several important points:
- No Deviation: The utilization of the issuance proceeds aligns with the issue’s objectives.
- RBI Approval: The company has obtained all necessary government and statutory approvals, including RBI approval for fund remittance.
Financial Details and Fund Utilization
As of the end of Q3 2025:
- Issue Size: The total issue size is ₹4,225.000 Crore.
- Net Proceeds: Net proceeds as per the prospectus are ₹1,409.740 Crore (excluding issue-related expenses).
As of the end of Q3 2025, the total utilized amount was ₹1,444.824 Crore. The unutilized amount totals ₹30.176 Crore.
Use of Funds
The funds have been allocated as follows:
- Issue Related Expenses: ₹60.084 Crore utilized, with ₹5.176 Crore remaining unutilized.
- Acquisition: ₹1,300.000 Crore allocated for the purchase consideration, fully utilized.
- General Corporate Purposes: ₹84.740 Crore utilized.
Deployment of Unutilized Proceeds
The remaining unutilized funds, totaling ₹39.864 Crore, are deployed in the following instruments:
- Fixed Deposits: Several fixed deposits with HDFC Bank Ltd, maturing in January and March 2026, earning interest at 7.55%.
Source: BSE
