PTC Industries Limited has submitted its final Monitoring Agency Report, prepared by ICRA Limited, covering the utilization of proceeds from its Qualified Institutional Placement (QIP) for the quarter ended December 31, 2025. The report confirms that there were no major deviations from the originally stated objects of the issue. Total utilization of net proceeds up to the end of Q3 FY2026 reached ₹574.9105 Crore against the total net proceeds of ₹673.2558 Crore raised.
QIP Fund Utilization Update for Q3 FY2026
PTC Industries Limited has disclosed the final Monitoring Agency Report for the third quarter of the Financial Year 2026 (ending December 31, 2025), confirming compliance regarding the utilization of funds raised through the Qualified Institutional Placement (QIP) issued in August/September 2024.
Key Compliance Findings
The monitoring agency, ICRA Limited, confirmed that the utilization of the issuance proceeds was in line with the objects of the issue, resulting in no deviation observed over the reporting period. The report confirmed that all utilization parameters, including shareholder approvals for deviations (where applicable), were met as per the Placement Document.
Total Proceeds and Utilization Summary
The total net proceeds from the issue amounted to INR 673.2558 Crore. As of December 31, 2025, the cumulative utilization of net proceeds stood at ₹574.9105 Crore, leaving an unutilized balance of ₹125.0894 Crore.
Utilization by Object (Net Proceeds – Amounts in ₹ Crore)
- Repayment/Pre-payment of Borrowings:
- Total planned: 50.0000. Utilization through the quarter: Nil. Total utilized: 50.0000. The remaining ₹3.9399 Crore utilized in Q1 FY26 was noted as reimbursement for repayments made earlier via internal accruals.
- Capital Expenditure (Manufacturing Facilities):
- Total planned: 209.0000. Total utilized: 177.3463, with ₹3.6492 Crore utilized during the quarter.
- Working Capital Requirements:
- Total planned: 71.0000. Total utilized: 71.0000 (Fully utilized).
- Inorganic Growth Initiatives:
- Total planned: 175.0000. Total utilized: 175.0000 (Fully utilized).
- General Corporate Purposes (GCP):
- Total planned: 168.2558. Total utilized: 75.1291, with ₹31.3708 Crore utilized during the quarter.
Deployment of Unutilized Funds
The unutilized proceeds totaling ₹125.0894 Crore were deployed across various instruments, primarily in fixed deposits. The total earnings on these deployments for the quarter amounted to ₹1.86 Crore. The market value of these investments at the end of the quarter was reported as ₹126.9494 Crore.
Implementation Timeline Status
The report indicates that four out of the five stated objects are Completed or On Schedule:
- Repayment of borrowings: Completed (utilizing the final ₹3.9399 Crore in Q1 FY26).
- Capital Expenditure: On Schedule (Target completion FY2026).
- Working Capital: Completed.
- Inorganic Growth: Completed.
- General Corporate Purposes: On Schedule (Target completion FY2026).
Source: BSE
