Premier Energies Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, to the stock exchanges. The report, issued by CRISIL Ratings Limited, details the utilization of proceeds from the company’s Initial Public Offer (IPO). The submission complies with SEBI regulations, providing transparency on how the raised funds are being deployed towards the company’s objectives.
Monitoring Agency Report Filed
Premier Energies Limited has formally submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026, to the BSE Limited and the National Stock Exchange of India Limited. This report is a mandatory regulatory submission detailing the utilization of funds raised through the company’s Initial Public Offer (IPO).
CRISIL Ratings Oversight
The report was prepared and issued by CRISIL Ratings Limited, acting as the appointed Monitoring Agency. The submission aligns with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. CRISIL Ratings’ report provides an objective view of how the IPO proceeds have been utilized against the stated objects of the issue.
Key Observations from the Report
The report indicates that the utilization of funds was generally in line with the objects stated in the offer document, with a noted change in project location approved by shareholders. Specifically, the location for establishing a 4 GW solar PV cell project was changed from Telangana to Andhra Pradesh pursuant to a special resolution dated April 06, 2025. The report also confirms that certain approvals have been obtained, while others are in process. For the reported quarter, the company utilized proceeds towards its investment objectives, with a portion allocated to general corporate purposes as approved by management, not exceeding 25% of the gross proceeds.
Financial Snapshot
The total gross proceeds of the fresh issue amounted to Rs 12,914 million, with issue expenses of Rs 525.11 million, resulting in net proceeds of Rs 12,388.89 million. For the quarter ended September 30, 2026, the total amount utilized was Rs 12,896.78 million, leaving an unutilized amount of Rs 17.14 million primarily related to issue expenses.
Deployment of Unutilized Proceeds
As of September 30, 2026, the unutilized proceeds amounted to Rs 17.14 million. This amount was primarily parked in fixed deposits and current accounts. The report details the fixed deposits held with Axis Bank and the balance in the public offer account and monitoring account. There was no utilization reported for General Corporate Purposes during the reported quarter.
The document also confirms that there were no delays in the implementation of the objects as per the offer document.
Source: BSE
