Azad Engineering Limited — Others, 26-05-2025: Monitoring Agency Report

Azad Engineering Limited has announced a board meeting to consider the financial results for the quarter and half-year. The company raised ₹700 Cr via a QIP, utilizing ₹45.08 Cr by March-end mainly for capital expenditure (₹8.67 Cr), corporate expenses including salaries and vendor payments (₹35 Cr), and issue costs (₹1.41 Cr). The remaining funds are securely held in fixed deposits and escrow accounts. There have been no deviations in fund usage or project delays, with all approvals secured, supporting ongoing expansion and operations.