Gravita India Limited — Others, 28-07-2025: Monitoring Agency Report

Gravita India's monitoring agency, ICRA Limited, has reported on the utilization of the 1000 Cr Qualified Institutional Placement (QIP) proceeds for the quarter ended June 30, 2025. The report confirms that the utilization of the net proceeds of 981.42 Cr is entirely in line with the stated objectives, with no deviations. Funds were used for repayment of borrowings, funding working capital, and general corporate purposes. Approximately 253.36 Cr remains unutilized and has been invested across various financial instruments. All QIP objectives are progressing on schedule.