Leela Palaces Hotels & Resorts Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025. The report, issued by ICRA Limited, confirms that the utilization of proceeds from the company's Initial Public Issue (IPO) is in line with the objects disclosed in the offer document.

No deviation was observed in the utilization of funds, which amounted to ₹2,363.087 crore out of the total IPO proceeds of ₹2,500.00 crore monitored by ICRA. The primary use of these funds, ₹2,300.00 crore, was for the repayment and prepayment of certain outstanding borrowings by the company and its wholly-owned subsidiaries. An additional ₹64.402 crore was allocated for general corporate purposes.

The report also details the deployment of unutilized proceeds, totaling ₹92.556 crore, which have been invested in fixed deposits with the State Bank of India, earning interest. The company has confirmed that all utilization is as per the disclosures, and no material deviations have occurred. The Audit Committee reviewed and considered this report in its meeting held on January 16, 2026. The information is also available on the company's investor website.