ETERNAL reports no deviation in QIP fund utilization for Q2 FY26
Eternal Limited's monitoring agency report for Q2 FY26 confirms no deviation in QIP fund utilization. ₹1,110.54 crore was utilized this quarter, with total utilization at ₹2,945.61 crore, aligning with stated objectives.
This is a routine compliance report confirming proper utilization of previously raised funds. While positive, it does not announce new strategic initiatives or significant financial performance changes, making its immediate market impact moderate.
The report explicitly states "No deviation" from the objects of the issue and confirms that the utilization of QIP proceeds is in line with the stated objectives, indicating good governance and adherence to financial plans.
* Eternal Limited (formerly Zomato Limited) has submitted its Monitoring Agency Report, issued by ICRA Limited, regarding the utilization of proceeds from its Qualified Institutions Placement (QIP) for the quarter ended September 30, 2025. * The report confirmed that there was "No deviation" from the objects of the issue, and the utilization of the QIP proceeds is in line with the stated objectives. * The QIP, which took place from November 25-28, 2024, raised ₹8,500.00 crore, with net proceeds amounting to ₹8,436.12 crore. * For the quarter ended September 30, 2025, the company utilized ₹1,110.54 crore from the QIP proceeds. * The cumulative utilized amount from the QIP, as of September 30, 2025, is ₹2,945.61 crore, leaving ₹5,490.51 crore unutilized. * Utilization during the quarter included: * Expenditure towards setting up and running operations of Dark Stores and warehouses: ₹514.78 crore. * Advertising, marketing, and branding initiatives: ₹159.62 crore. * Investment in technology infrastructure and capabilities: ₹150.05 crore. * General corporate purposes: ₹286.09 crore. * The unutilized proceeds are invested across various instruments, including fixed deposits with banks (SBI, Kotak Mahindra Bank, Axis Bank, HDFC Bank, ICICI Bank), corporate deposits (Bajaj Finance Limited, Mahindra & Mahindra Financial Services Limited), government securities (G-Secs), and liquid funds (Bandhan, HSBC, HDFC, Nippon, ABSL, ICICI Pru, SBI). * The report also stated that all objects for which the funds were raised are "On Schedule" for completion between FY26-FY28, with no observed delays.
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ETERNAL LIMITED filed this with the NSE as a statutory disclosure, categorised under qualified institutional placement. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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