Rashi Peripherals IPO Proceeds Utilization: Monitoring Agency Report for Q3FY26
Rashi Peripherals Limited's Monitoring Agency Report for Q3FY26 confirms no deviation in IPO proceeds utilization. Rs. 600 crore IPO funds were utilized for debt prepayment and working capital. Rs. 1.61 crore remains for General Corporate Purposes, with utilization extended to FY2026.
This is a routine monitoring report as required by SEBI regulations for IPO proceeds utilization. It confirms that funds are being used as planned and does not introduce any new information that would significantly impact the company's operations or stock.
The report indicates no deviations in the utilization of IPO proceeds, which is a neutral outcome as it signifies adherence to the planned use of funds. There are no positive or negative surprises.
Rashi Peripherals Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of its Initial Public Offer (IPO) proceeds. The report, dated February 3, 2026, was prepared by CARE Ratings Limited, the appointed Monitoring Agency. The IPO, which raised Rs. 600 crore, had an issue period from July 2, 2024, to September 2, 2024.
During the quarter, the company utilized IPO proceeds towards fixed assets, with payments made from its Cash Credit (CC) account with HDFC Bank. Funds were transferred from the monitoring agency account to the HDFC Bank CC account for these expenses. The report confirms that there were no deviations from the objects disclosed in the Offer Document and no material deviations from earlier monitoring agency reports.
The original objects of the issue included prepayment of outstanding borrowings (Rs. 326.00 crore), funding working capital requirements (Rs. 220.00 crore), and general corporate purposes (GCP) (Rs. 8.14 crore), totaling Rs. 554.14 crore. As of December 31, 2025, the prepayment of borrowings and funding of working capital requirements were fully utilized. For General Corporate Purposes, Rs. 1.71 crore was spent during the quarter, with Rs. 1.61 crore remaining unutilized. The original timeline for GCP utilization was the end of fiscal year 2024, which was extended by a Board resolution dated April 21, 2025, to be completed by the end of fiscal year 2026 or thereafter. The unutilized Rs. 1.61 crore is currently deployed in the Axis Public Issue account and IndusInd Monitoring Account.
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Rashi Peripherals Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. 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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