ETERNAL LIMITED — Others, 21-07-2025: Monitoring Agency Report

Eternal Limited's Qualified Institutions Placement (QIP) funds utilization has been reviewed by ICRA Limited, the monitoring agency. The report confirms that there is no deviation in the use of the QIP proceeds, aligning with the stated objectives of the issue. Of the INR 8,436.12 Crore net proceeds, Eternal Limited has utilized INR 1,835.07 Crore towards strategic areas including setting up dark stores, marketing, and technology infrastructure. The remaining INR 6,601.05 Crore unutilized funds are prudently deployed in various fixed deposits, corporate deposits, and liquid investments, ensuring efficient capital management for the company.