Lucknow/Mumbai, India – : PTC Industries Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, confirming that there has been no deviation in the utilisation of proceeds raised through its Qualified Institutional Placement (QIP), according to the report prepared by ICRA Limited.
The disclosure was made under Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations and was filed with the stock exchanges.
QIP Details
PTC Industries had raised approximately ₹700 crore through the issuance of equity shares via a QIP in August–September 2024. Net proceeds from the issue stood at ₹673.26 crore, as outlined in the placement document.
The funds were allocated toward:
- Repayment or prepayment of existing borrowings
- Capital expenditure, including expansion of manufacturing facilities and investments in subsidiary Aerolloy Technologies Limited
- Working capital requirements
- Inorganic growth initiatives
- General corporate purposes
Utilisation Status
As of December 31, 2025, the monitoring report shows:
- Total utilised: ₹574.91 crore
- Unutilised balance: ₹125.09 crore
ICRA noted that fund utilisation during the quarter remained fully aligned with the objectives stated in the placement document. Repayment of borrowings, working capital deployment, and inorganic growth initiatives have been completed as planned, while capital expenditure and general corporate spending remain on track for completion in FY2026.
Deployment of Unutilised Funds
The unutilised amount of ₹125.09 crore has been temporarily invested in fixed deposits with YES Bank and Punjab National Bank, earning interest between 5% and 6.2%. Minor balances are held in designated bank accounts. The total market value of these investments stood at ₹126.95 crore at the end of the quarter.
Monitoring Agency Observations
ICRA clarified that the report is based on information and certifications provided by the company and does not constitute an audit or an assessment of the commercial viability of the projects. The agency also confirmed that it does not perceive any conflict of interest in its role as the monitoring agency.
Regulatory Compliance
PTC Industries stated that there have been no material deviations, defined as a change in objects or utilisation exceeding 10% of the specified amount, from the stated use of QIP proceeds.
With key repayment obligations completed and expansion initiatives progressing as scheduled, the company continues to execute its post-QIP capital deployment strategy in line with its disclosed roadmap.