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.
