The Monitoring Agency confirms no deviation or variation in the utilization of proceeds from the Equity Shares issuance under Qualified Institutional Placement (QIP) for the quarter ended September 30, 2025. The report, reviewed by the Audit Committee and Board of Directors, is available on the company website. The QIP issue aggregated to ₹750 crore.
QIP Proceeds Utilization
Navin Fluorine International Limited confirms the appropriate utilization of funds raised through its Qualified Institutional Placement (QIP) for the quarter ending September 30, 2025. The total QIP issue amounted to ₹750 crore.
Monitoring Agency Findings
A report from the Monitoring Agency indicates that there were no deviations in how the QIP proceeds were used compared to what was outlined in the original Offer Document.
Key Details of QIP Utilization:
As of September 30, 2025, ₹506.69 crore of the ₹750 crore QIP had been utilized.
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₹415.43 crore went towards repayment or prepayment of borrowings by the company and its subsidiary, Navin Fluorine Advance Sciences Ltd (NFASL).
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₹74.51 crore was allocated to general corporate purposes.
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₹16.75 crore was used for issue-related expenses.
The remaining ₹243.31 crore is unutilized. This unutilized amount has been temporarily invested.
Deployment of Unutilized Proceeds
The unutilized QIP proceeds are currently deployed as follows:
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₹243.03 crore is invested in Mutual Funds, earning a return of 5.70%.
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₹0.28 crore is held in an Axis Bank QIP Monitoring Account.
Source: BSE
