Netweb Technologies India Limited has submitted its monitoring agency report for the quarter ended September 30, 2026. This report, issued by CRISIL Ratings Limited, details the utilization of proceeds raised through a Qualified Institutions Placement (QIP). The findings were reviewed by the company’s Audit Committee and Board of Directors, confirming that the utilization aligns with the disclosed objectives.
Netweb Technologies Files QIP Proceeds Monitoring Report
Netweb Technologies India Limited has officially released its monitoring agency report concerning the utilization of funds raised via its Qualified Institutions Placement (QIP). The report covers the financial quarter that concluded on September 30, 2026.
CRISIL Ratings Oversight
The monitoring agency report was prepared and issued by CRISIL Ratings Limited. This submission is in compliance with regulatory requirements, specifically Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report confirms that the proceeds from the QIP have been utilized in accordance with the objectives laid out in the placement document.
Board and Audit Committee Review
The findings and conclusions presented in the CRISIL Ratings report have undergone a thorough review by both the company’s Audit Committee and the Board of Directors. This internal validation ensures transparency and adherence to corporate governance standards regarding the deployment of funds raised from the QIP.
Key Highlights from the Report
The report indicates that the utilization of funds is generally in line with the disclosures made. Specifically:
- Funding working capital requirements: A significant portion of the funds has been allocated towards working capital, with an amount of Rs 7,667.45 million utilized during the quarter.
- General Corporate Purposes: No utilization was reported for General Corporate Purposes during this quarter.
- Issue Expenses: Expenses related to the issue, amounting to Rs 76.79 million, have been utilized for consultancy, advisory fees, and professional fees.
The total amount utilized as of September 30, 2026, stands at Rs 7,744.24 million out of the total issue size of Rs 12,000.00 million. The unutilized amount is reported at Rs 4,255.76 million.
The deployment of unutilized proceeds indicates investments in fixed deposits with Axis Bank and balances held in the QIP Monitoring Agency Account and QIP Escrow Account.
Source: BSE
