CRISIL monitoring report for September quarter: issue proceeds used for onward lending, no deviation
Shriram Finance has shared the CRISIL Ratings monitoring agency report for the quarter ended September 30, 2026, covering the money raised through its preferential issue of equity shares.
By ScoutQuest · · 2 min read
- Issue Size
- Rs 39,617.98 crore
- Utilisation of Proceeds
- Proceeds were utilised towards onward lending
- Deviation from Objects of the Issue
- Not applicable
What the update covers
The company has submitted the Monitoring Agency Report prepared by CRISIL Ratings Limited for the quarter ended September 30, 2026. The report tracks how the money raised through the preferential issue of equity shares has been used. A monitoring agency is an outside entity appointed to independently check that issue proceeds go where the company said they would.
Key issue details
- Issue size: Rs 39,617.98 crore
- Type of issue: Preferential Issue (PI)
- Type of securities: Equity shares
- Issue period: April 08, 2026
- Promoters listed in the report: Shriram Capital Private Limited and Shriram Ownership Trust
- Sector: Non-Banking Financial Company (NBFC)
What the monitoring agency found
The report states that utilisation of the proceeds was as per the disclosures in the offer document. It records that proceeds were utilised towards onward lending, which is the ordinary lending business of a non-banking finance company.
On deviation from the objects of the issue, the report marks both deviation and range of deviation as Not applicable. In simple terms, this means the money was used for the stated purpose rather than being diverted elsewhere.
What the monitoring agency relied on
The report lists the sources it considered while preparing its comments, including the Statutory Auditors Certificate, a management undertaking, the Notice to Shareholders dated December 19, 2025, and bank statements.
The Board's own comment column on the utilisation question carries No Comments.
How to read this
This is a periodic disclosure rather than a fresh event. It gives a check on whether a large fund raise is being deployed as promised. The report says the proceeds have gone into lending, the same activity the company is in, and that there is no deviation from the stated objects. The report also carries a declaration that the monitoring agency does not perform an audit and does not provide a statutory verification of the information it receives, and that the Board's comments in the format are not reviewed by it.
The report was reviewed by the Audit Committee on October 22, 2026 and by the Board of Directors on October 23, 2026.
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More numbers
- Issue size of the preferential issueRs 39,617.98 crore
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