Xpro India Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, concerning the utilization of proceeds from its Preferential Issue (FY 2023-2024) and Qualified Institutions Placement (QIP). The report, issued by Crisil Ratings Limited, confirms that the utilization of funds aligns with the disclosures made in the Offer Document. For the Preferential Issue, which raised ₹140 crore, the proceeds were allocated to capital expenditure (₹100 crore), working capital (₹10 crore), and general corporate purposes (₹30 crore). As of December 31, 2025, ₹16.04 crore had been utilized, with ₹123.95 crore remaining unutilized. The unutilized amount is deployed in fixed deposits with various banks, including those of its wholly-owned subsidiary, Xpro Dielectric Films FZ-LLC. For the QIP, which raised ₹1,500 million (approximately ₹1441.83 crore net proceeds), the funds were earmarked for capital expenditure (₹282.70 million), pre-payment of borrowings (₹98.80 million), working capital (₹660.00 million), ERP software implementation (₹35.00 million), and general corporate purposes (₹365.33 million). As of December 31, 2025, ₹1429.99 million had been utilized, with ₹11.84 million remaining unutilized, primarily for the ERP software implementation. The unutilized amount is held in bank accounts and fixed deposits. The reports indicate no material deviations, and all necessary government/statutory approvals have been obtained. The company has also transitioned its monitoring agency from India Ratings and Research Private Limited to Crisil Ratings Limited.
