PCBL Chemical Limited has released its final Monitoring Agency Report for the quarter ended March 31, 2026. The report confirms the successful and full utilization of proceeds totaling Rs 448 crore raised through a preferential issue of warrants. These funds were strategically deployed for debt repayment, working capital requirements, and general corporate purposes. With the total amount now fully utilized, this marks the conclusion of the monitoring period by CRISIL Ratings.
Completion of Fund Utilization
The monitoring process for the preferential issue of warrants by PCBL Chemical Limited has reached its conclusion. As of the quarter ended March 31, 2026, the company has successfully utilized the entire proceeds of Rs 448 crore. This final report confirms that there have been no deviations from the objects stated in the original offer document, validating the efficient deployment of capital.
Strategic Allocation of Proceeds
The capital raised was allocated across three core financial areas to strengthen the company’s balance sheet and operational liquidity. The utilization breakdown is as follows:
- Debt Repayment: Rs 168 crore was directed toward the repayment of term loans held with major financial institutions, including Citibank and Aditya Birla Capital Limited.
- Working Capital: Rs 168 crore was utilized to fund working capital requirements, specifically supporting buyer’s credit facilities for essential raw material purchases such as Carbon Black Feedstock.
- General Corporate Purposes: Rs 112 crore was deployed for general corporate needs, which included the prepayment of borrowing facilities.
Final Status and Closing
The company confirmed that as of April 22, 2026, all remaining funds—including minor interest earnings—have been transferred from the monitoring account to the company’s current account. Consequently, the monitoring account balance now stands at Nil. Following this full utilization, CRISIL Ratings will no longer be required to issue further monitoring reports for this specific capital raise, signifying the successful execution of the company’s financial objectives.
Source: BSE
