Elin Electronics Limited — Others, 13-08-2025: Monitoring Agency Report

Elin Electronics Limited's Monitoring Agency, Axis Bank, reported no deviation in the utilization of IPO proceeds. All funds from the ₹175.0 Cr fresh issue (part of the total ₹475.0 Cr IPO) have been fully deployed as planned. Specifically, ₹88.00 Cr was used for debt repayment, ₹37.59 Cr for capital expenditure to upgrade and expand facilities, and ₹39.56 Cr for general corporate purposes. While there were minor adjustments in capital expenditure locations for improved profitability, these were deemed non-material deviations and supported by independent professional opinions, ensuring efficient use of shareholder funds.