Monitoring Agency Report: QIP proceeds used towards general corporate purposes, no deviation
Crisil Ratings' Final Monitoring Agency Report on the use of Poonawalla Fincorp's QIP money, for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- Issue Size
- Rs. 25,000 million
- Net Proceeds Monitored
- Rs. 24,346.56 million
- Net Proceeds Revised
- from Rs 24,315.16 million to Rs 24,346.56 million
Monitoring Agency Report: what it covers
Crisil Ratings Limited has issued its Final Monitoring Agency Report on how Poonawalla Fincorp used the money raised through its Qualified Institutional Placement (QIP), for the quarter ended September 30, 2026. The report was placed before the Audit Committee and Board of Directors, which reviewed and took note of it. A monitoring agency is appointed to independently track whether the money raised in an issue is used for the purposes stated at the time of the issue.
The QIP numbers
- Issue size: Rs. 25,000 million, out of which the net proceeds tracked are Rs. 24,346.56 million
- Issue period: April 09, 2026; type of issue: Qualified Institutional Placement; securities: Equity Shares
- During the reported quarter, the net proceeds amount was revised from Rs 24,315.16 million to Rs 24,346.56 million, because issue expenses were lower by Rs 31.40 million
- That difference was added to GCP, so the GCP amount changed from Rs 100.00 million to Rs 131.40 million
What the report says about usage
- Whether all utilisation is as per the disclosures in the Offer Document: Yes
- The Monitoring Agency's comment: proceeds have been utilised towards General Corporate purposes
- Deviation from the objects: Not applicable; Range of Deviation: Not applicable
- Whether the means of finance for the disclosed objects of the issue has changed: No
- Whether shareholder approval was obtained in case of material deviations from expenditures disclosed in the Offer Document: NA
The issuer and the reviewer
- Issuer: Poonawalla Fincorp Limited, a Non-banking financial company (NBFC)
- Promoter: Rising Sun Holdings Pvt Ltd
- Monitoring agency: Crisil Ratings Limited
The information base
Crisil Ratings states that the report was prepared using the statutory auditor's certificate, management inputs, the placement document (referred to as the Offer Document) and bank statements. The agency also notes that it does not perform an audit or independent verification, and that the sections titled "Comments of the Board of Directors" are captured by the issuer's management and have not been reviewed by the agency.
How a reader can use this
The report is an update on the end-use of money already raised, not a new fund-raising event. The key takeaways are the amount being monitored (Rs. 24,346.56 million of net proceeds), the stated use towards General Corporate purposes, and the fact that deviation from the objects is marked Not applicable with the means of finance unchanged.
Also from Poonawalla Fincorp
Q2FY27 earnings call transcript: AUM ₹74,008 crore, PAT ₹375 crore, GNPA 1.2%
14 Oct 2026
Poonawalla Fincorp reported strong Q2 results with sharp AUM, profit and asset quality improvement
13 Oct 2026
Poonawalla Fincorp shares rallied following strong Q2 earnings with sharp growth in AUM, profit and asset quality improvement
12 Oct 2026
More numbers
- QIP issue sizeRs. 25,000 million
- Net proceeds being monitoredRs. 24,346.56 million
- Revised net proceeds (earlier)Rs 24,315.16 million
- Lower issue expensesRs 31.40 million
- GCP amount (revised)Rs 131.40 million
- GCP amount (earlier)Rs 100.00 million
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.