Leela Palaces Hotels & Resorts Limited has released its monitoring agency report for the quarter ended December 31, 2025 (Q3 FY2026). The report, issued by ICRA Limited, confirms that the utilization of IPO proceeds is in line with the objects of the issue, with no deviations observed. The proceeds were primarily used for debt repayment and general corporate purposes.
IPO Proceeds Monitoring
Leela Palaces Hotels & Resorts Limited confirms adherence to the planned utilization of funds raised through its Initial Public Offering (IPO). ICRA Limited, the monitoring agency, submitted its report for the quarter ended December 31, 2025, confirming that the use of IPO proceeds aligns with the stated objectives.
Utilization Details
The monitoring report indicates that a significant portion of the IPO proceeds was allocated to the following:
- Debt Repayment: A substantial amount was used for repaying outstanding borrowings and related interest, as originally planned.
- General Corporate Purposes: Funds were also deployed for general corporate needs.
Financial Status and Deployment
As of December 31, 2025, the company had deployed IPO funds as follows:
- Issue Related Expenses: INR 116.256 Crore
- Debt Repayment to Company: INR 1,102.500 Crore
- Debt Repayment to Subsidiaries: INR 1,197.500 Crore
- General Corporate Purposes: INR 64.402 Crore
Unutilized Funds and Investments
The company reported a total of INR 92.556 Crore of unutilized funds, which were deployed in fixed deposits with State Bank of India and in monitoring accounts. These investments yielded a total earning of INR 3.003 Crore.
No Deviations
The report explicitly states that there were no deviations from the objects of the issue. This confirms that the funds raised through the IPO were utilized as intended, maintaining transparency and accountability to investors.
Source: BSE
