Borosil Limited — Others, 07-02-2025: Monitoring Agency Report

Borosil Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2024, prepared by ICRA Limited, confirming that there has been no deviation in the utilization of proceeds from its recent Qualified Institutions Placement (QIP) of INR 150 crore. The report outlines that all funds are being used as intended, primarily for repaying project loans and general corporate purposes, with total amount utilized reported at INR 147.996 crore. This consistent adherence to the disclosed objectives strengthens investor confidence, reflecting effective capital management and a positive outlook on the company’s financial health.