Monitoring Agency Report for QIP Proceeds - Quarter Ended 30th September 2025
Laxmi Organic confirms no deviation in QIP proceeds utilization based on monitoring report for quarter ended September 30, 2025. Surplus of ₹0.50 crore utilized for general corporate purposes.
The announcement is a routine update on the utilization of QIP proceeds and does not indicate any significant financial or operational changes for the company.
The announcement is a compliance report indicating adherence to regulations and providing details on the utilization of QIP proceeds.
* Laxmi Organic Industries confirms no deviation in the utilization of QIP proceeds from the objects stated in the placement document dated October 10, 2023. * This is based on the Monitoring Agency Report issued by India Ratings & Research Private Limited for the quarter ended September 30, 2025. * The report, pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirms adherence to Regulation 173A(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. * Statutory Auditor certificate dated 04th November 2025 issued by DELOITTE HASKINS & SELLS LLP, Chartered Accountants, confirms no deviation from the objects has been observed. * As per management undertaking, all requisite approvals needed for the current stage of the projects have been secured. * The actual QIP issue expense incurred by the company is ₹10.54 crore against ₹11.05 crore as estimated in the placement document, resulting in a surplus of ₹0.50 crore, which has been utilized for general corporate purposes. * ₹25.04 crore has been utilized for setting up of the new innovation centre at plot bearing number A -309 located at Mahape, MIDC. * ₹138.33 crore has been utilized for setting up of the new manufacturing facility at village Jolve and Vadadla, Bharuch. * ₹50.60 crore for general corporate purposes and ₹10.54 crore for QIP related issue expenses. * Unutilized issue proceeds of ₹35.00 crore are invested in Mutual Funds.
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Laxmi Organic Industries Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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