CRISIL Ratings, acting as the Monitoring Agency, has released its report on Wockhardt’s utilization of funds raised through Qualified Institutions Placement (QIP) for Q2 2026 (July-September). The report confirms that the proceeds were utilized as per the disclosures in the Offer Document with no deviations. A total of ₹740.68 crore has been utilized from the QIP proceeds, leaving an unutilized amount of ₹237.11 crore as of September 30, 2025.
QIP Fund Utilization
Wockhardt has received a monitoring agency report from CRISIL Ratings, regarding the utilization of proceeds from its Qualified Institutions Placement (QIP). This report is for the quarter ended September 30, 2025 (Q2 2026). The monitoring agency confirmed no deviations in the utilization of funds compared to the original plans detailed in the placement document.
Key Highlights from the Report
As of September 30, 2025, Wockhardt has utilized ₹740.68 crore from the net QIP proceeds, leaving an unutilized amount of ₹237.11 crore. The QIP had net proceeds of ₹977.79 crore. The utilized funds have been allocated towards:
- Repayment/pre-payment of borrowings: ₹491.31 crore
- Funding capital expenditure, research and development: ₹52.50 crore
- General corporate purposes: ₹196.87 crore
Deployment of Unutilized Proceeds
The unutilized funds, totaling ₹237.11 crore, have been invested in various mutual funds and held in current/cash credit accounts. These investments include:
- Bandhan Mutual Fund: ₹4.12 crore
- HDFC Mutual Fund: ₹50.00 crore
- Mirae Asset Mutual Fund: ₹48.09 crore
- Tata Mutual Fund: ₹110.89 crore
- Aditya Birla Sun Life Mutual Fund: ₹5.00 crore
- DSP Mutual Fund: ₹5.00 crore
- Current/cash credit accounts: ₹14.00 crore
General Corporate Purpose Allocation
An amount of ₹62.88 crore from the general corporate purpose allocation was utilized towards vendor payments.
Source: BSE