AEAdani Enterprises512599Routine SEBI update

Monitoring agency report on QIP proceeds: Rs.15,000.00 crore raised, Rs.11,258.58 crore utilised, no deviation

CARE Ratings has shared its monitoring agency report on how Adani Enterprises used the money raised through its QIP.

By ScoutQuest · Thu 29 Oct 2026, 1:33 PM IST · 2 min read

QIP Amount

Rs.15,000.00 crore

Utilised During Quarter Ended Sep 30, 2026

Rs.11,258.58 crore

Unutilised at Quarter End

Rs.3,741.42 crore, held in fixed deposits, a mutual fund and a monitoring account

What this update is about

A company that raises money through a qualified institutional placement (QIP) has to appoint an independent monitoring agency, which tracks how the money is used and reports every quarter. CARE Ratings Limited is that agency for this QIP, and the update carries its report for the quarter and half year ended September 30, 2026, along with the company's own comments.

How much was raised

• The QIP amount was Rs.15,000.00 crore.
• The issue period ran from July 02, 2026 to July 07, 2026.

Where the money has gone so far

• Capital expenditure on a polyvinyl chloride (PVC) plant and payment of concession fee for tolling, operation, maintenance and transfer of the six lane Chennai Outer Ring Road: Rs.640.47 crore used, against Rs.2,450.00 crore earmarked.
• Repayment or pre-payment, in full or in part, of certain borrowings of the company and its subsidiaries: Rs.6,805.10 crore used, against Rs.7,800.00 crore earmarked.
• Funding inorganic growth through unidentified acquisitions/investments and general corporate purposes: Rs.3,727.79 crore used, against Rs.4,664.50 crore earmarked.
• Issue related expenses: Rs.85.22 crore used, against Rs.85.50 crore earmarked.
• Total utilised: Rs.11,258.58 crore. Total still unutilised: Rs.3,741.42 crore.

Where the unutilised money is parked

• Fixed deposits with HDFC Bank, IDBI Bank, Indian Bank and Yes Bank, and units of a mutual fund scheme, with returns shown in a range of 6.75% to 7.40%.
• Balance in the monitoring account: Rs.1,657.42 crore.
• Together these total Rs.3,741.42 crore.

What the monitoring agency says

• "Deviation from the objects: No". The range of deviation is marked NA.
• The Board of Directors' comments state that there are no deviations and that the funds have been utilised for the purpose stated in the placement document.
• The agency also notes there is no change in the means of finance for the objects of the issue, and that all government and statutory approvals are in place as confirmed from the offer document.

How to read this

A monitoring agency report is a periodic progress check rather than an event. The useful takeaways are how much of the QIP money has been deployed and whether it is going where the company said it would. Here, the report shows roughly three-fourths of the proceeds already used across the four stated heads, the remaining amount held in deposits and the monitoring account, and no deviation flagged by the agency.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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