Anant Raj515055Routine SEBI update

Monitoring agency report: no deviation in QIP use, Rs. 526.52 crore spent till September 30, 2026

Infomerics Valuation and Rating Ltd has given its monitoring agency report on Anant Raj's Rs. 1100.00 crore QIP for the quarter ended September 30, 2026.

By ScoutQuest · Wed 28 Oct 2026, 3:21 PM IST · 2 min read

QIP Gross Proceeds: Rs. 1100.00 crore
Proceeds Spent Till Sep 30, 2026: Rs. 526.52 crore
Shares Allotted: 1,66,16,314 equity shares at Rs. 662.00 each

What this document is

A monitoring agency report is an outside check on how a company uses money raised from large investors. Anant Raj raised money through a Qualified Institutional Placement (QIP) — a private placement of equity shares to institutions. Infomerics Valuation and Rating Ltd, the monitoring agency, has reported on the quarter ended September 30, 2026.

The QIP at a glance

Total proceeds received: Rs. 1100.00 crore
Expenses related to the QIP issue: Rs. 27.80 crore
Net proceeds available for utilisation: Rs. 1072.20 crore
Shares offered and allotted: 1,66,16,314 equity shares at Rs. 662.00 per equity share
The issue was fully subscribed, and the same number of shares was allotted to applicants.
At least 10% of the issue was made available only to mutual funds, with the balance open to all QIBs including mutual funds.

How much has been used

The agency states that of the gross proceeds of Rs. 1100 crore, Rs. 526.52 crore was spent till the quarter ended September 30, 2026.

Where the money is earmarked

The objects listed are investment in a subsidiary (Anant Raj Cloud Private Limited) for developing data centres, funding construction of certain ongoing and proposed projects, acquisition of land or land development rights, repayment or pre-payment of certain outstanding borrowings of the company and/or its subsidiaries, and general corporate purposes. No revised cost is shown for any of these heads.

What the agency reviewed

Utilisation is stated to be as per the offer document.
No deviation from the expenditure disclosed, so shareholder approval was not required.
No change in the means of finance for the disclosed objects.
No major deviation observed over earlier monitoring agency reports.
Government and statutory approvals related to the objects were obtained.
No events were reported that affect the viability of the objects, either favourable or unfavourable.

A point the agency records

The proceeds moved from an escrow account with HDFC Bank to a monitoring account with SBI Bank, and were then partly placed in fixed deposits and partly routed into cash credit accounts maintained with SBI Bank, rather than being used directly from the monitoring account. The agency notes this resulted in commingling of funds, and that it relied on the chartered accountant's certificate to ascertain utilisation, along with examination of documents. The statutory auditor's remark records no deviations from the expenditure disclosed in the offer document.

How a retail reader can view it

The report confirms the money is being used on the stated plan and that no cost overruns or object changes are reported for the quarter. The description of funds passing through cash credit accounts, and the agency's reliance on a CA certificate because of that, is the one operational detail worth noting when tracking future reports.

Also from Anant Raj