Zen Technologies Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CRISIL Rating Limited, details the utilization of proceeds from the Qualified Institutional Placement (QIP). It confirms that the funds raised were utilized for their stated purposes, with no major deviations noted.
Zen Technologies Submits QIP Monitoring Report
Zen Technologies Limited has formally submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report addresses the utilization of funds raised through the company’s Qualified Institutional Placement (QIP).
CRISIL Rating’s Assessment
The report has been prepared by CRISIL Rating Limited, acting as the designated Monitoring Agency. It confirms that the deployment of the QIP proceeds aligns with the disclosures made in the offer document. The findings indicate that the utilization of funds has been in accordance with the intended objects of the issue, as per regulatory requirements.
Key Findings
According to the report, the utilization of proceeds is categorized into key areas including funding working capital requirements, funding inorganic growth through acquisitions and strategic initiatives, and general corporate purposes. The report indicates that the utilization for general corporate purposes remains within the stipulated limits.
The report also highlights the status of investments made with unutilized proceeds, detailing the type of instrument, amount invested, maturity dates, earnings, and return on investment. These unutilized funds are primarily held in fixed deposits with various banks.
Source: BSE
