Xpro India Limited has submitted the Monitoring Agency Report from CRISIL Ratings Limited for the quarter ended September 30, 2025, detailing the utilization of proceeds from its Preferential Issue (PI) and Qualified Institutions Placement (QIP). * Preferential Issue (PI): * Net proceeds from the PI (January 18-25, 2024) amounted to ₹140 crore. * Utilization as of September 30, 2025: * Capital expenditure for expansion of dielectric film capacity in Barjora, West Bengal, and UAE (through subsidiary Xpro Dielectric Films FZ-LLC): ₹9.78 crore utilized out of ₹100 crore, leaving ₹90.22 crore unutilized. * Working Capital: ₹3.42 crore utilized out of ₹10 crore, leaving ₹6.58 crore unutilized. * General Corporate Purposes (including income tax payment): ₹2.84 crore utilized out of ₹30 crore, leaving ₹27.15 crore unutilized. * Total utilized proceeds: ₹16.04 crore. Total unutilized proceeds: ₹123.95 crore, primarily deployed in fixed deposits. * Qualified Institutional Placement (QIP): * Net proceeds from the QIP (February 26-29, 2024) were revised from ₹1,430 million (₹143 crore) to ₹1,441.83 million (₹144.18 crore) due to lower issue expenses, which increased the General Corporate Purposes allocation. * Utilization as of September 30, 2025: * Part funding capital expenditure for new equipment at Barjora, West Bengal: ₹282.70 million (₹28.27 crore) fully utilized. * Pre-payment of outstanding borrowings: ₹98.80 million (₹9.88 crore) fully utilized. * Funding working capital requirements: ₹660.00 million (₹66 crore) fully utilized. * Implementation of enterprise resource planning (ERP) software system: ₹23.16 million (₹2.32 crore) utilized out of ₹35 million (₹3.5 crore), leaving ₹11.84 million (₹1.18 crore) unutilized. * General Corporate Purposes: ₹365.33 million (₹36.53 crore) fully utilized. * Total utilized proceeds: ₹1,429.99 million (₹143.00 crore). Total unutilized proceeds: ₹11.84 million (₹1.18 crore). * The report confirms no deviation from the objects of the issues for both the Preferential Issue and QIP, with unspent amounts planned for utilization in subsequent quarters.
