Asahi India Glass Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, pertaining to its Qualified Institutions Placement (QIP) of Equity Shares. The report, issued by CARE Ratings Limited, confirms that the company has fully utilized the entire ₹1000 crore raised through the QIP. During the third quarter of fiscal year 2026 (Q3FY26), Asahi India Glass utilized ₹691.25 crore for the prepayment of term loans from various banks including Bajaj Finserv, Shinhan Bank, Bank of Bahrain, Bank of Baroda, and Citi Bank. Additionally, ₹53.60 crore was used for the repayment of Working Capital Demand Loans (WCDL) from HDFC Bank, which were originally taken for vendor payments. The company also incurred ₹3.79 crore towards fees, commissions, and other issue-related expenses for the QIP. The report indicates no deviation from the objects disclosed in the offer document. The utilization aligns with the stated purposes of the issue, including repayment of borrowings and general corporate purposes. The company has confirmed that the total utilization under General Corporate Purposes (GCP) does not exceed 25% of the issue proceeds, as per the placement document.
