Hi-Tech Pipes Limited — Others, 12-08-2025: Monitoring Agency Report

Hi-Tech Pipes' monitoring agency reported on Qualified Institutional Placement (QIP) proceeds utilization. From the net proceeds of Rs 473.29 Cr, Rs 250 Cr was fully used for debt repayment and Rs 83.29 Cr for general corporate purposes by December 2024. For capital expenditure, Rs 55.05 Cr has been utilized for expansion in Gujarat and a new unit in Andhra Pradesh, including Rs 30 Cr this quarter. The remaining Rs 85.05 Cr of QIP funds are currently invested in fixed deposits and mutual funds. The report confirms no deviation from the stated QIP objectives.