Hi-Tech Pipes Limited — Others, 13-05-2025: Monitoring Agency Report

Hi-Tech Pipes Limited has announced a Crisil Monitoring Agency Report on the utilization of QIP proceeds of Rs 473.29 Cr. Funds are mainly directed toward expanding capacity at Sanand and a new plant at Sri City, repaying borrowings, and general corporate purposes. So far, Rs 342.08 Cr has been utilized, with Rs 115 Cr unutilized due to slower project progress and vendor changes. Borrowing repayments and corporate use portions are fully deployed. Remaining funds are parked in fixed deposits and mutual funds, with project spending expected to resume soon.