Monitoring agency reports no deviation in QIP proceeds for quarter ended September 30, 2026
Laxmi Organic Industries shared the Monitoring Agency Report for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- QIP Issue Size
- INR 2,591.21 Million
- Report Period
- quarter ended September 30, 2026
- Deviation from Objects
- No Deviation from the objects
What was shared
The company submitted the Monitoring Agency Report prepared by India Ratings & Research Private Limited for the quarter ended September 30, 2026, along with its confirmation that there has been no deviation in the utilization of QIP proceeds from the objects stated in the placement document dated October 10, 2023.
What the report says
- Deviation from the objects: No Deviation from the objects.
- Range of deviation: Not Applicable.
- All utilization is as per the disclosures in the Offer Document: Yes.
- Means of finance for the disclosed objects has changed: No.
- Major deviation observed over earlier monitoring agency reports: No.
- Government/statutory approvals related to the objects obtained: Yes.
- Unfavourable events affecting the viability of the objects: No.
Basis of the finding
The Monitoring Agency states its view rests on the management undertaking, the placement document, relevant bank statements and a statutory auditor certificate dated 05th November 2026 issued by Deloitte Haskins & Sells LLP, Chartered Accountants. The agency also notes in its declaration that it does not perform an audit and undertakes no independent verification of the information or certificates it receives.
Issue details
- Type of issue: Qualified Institutions Placement (QIP)
- Issue period: 5th October 2023 to 10th October 2023
- Issue size: INR 2,591.21 Million
- Promoters named in the report: Yellowstone Trust and Mr. Ravi Goenka
- Sector: Chemical Industry
How to read this
This is a routine quarterly update on how money raised from institutional investors in 2023 is being used. The key takeaway for a retail reader is that the money is reported to be going where the company said it would go, with no change in the funding plan for those objects and no adverse events flagged against them. A monitoring agency report of this kind reports on the use of issue proceeds; it is not a comment on the company's business performance or earnings.
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Consolidated results for the quarter ended 30.09.2026
5 Nov 2026
More numbers
- QIP issue sizeINR 2,591.21 Million
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