VWVidya Wires544633Compliance status update

Monitoring agency report confirms no deviation in use of IPO proceeds for Q2 FY27

Vidya Wires shared the Monitoring Agency Report by Brickwork Ratings for the quarter ended 30 September 2026.

By ScoutQuest · Wed 4 Nov 2026, 5:10 PM IST · 2 min read

Issue Size

Rs. 300.005 crore

Fresh Issue

52,692,307 shares at Rs. 52 each

ALCU Project Utilisation

Of the Rs. 140.00 crore planned, Rs. 124.25 crore is used and Rs. 15.75 crore unutilised as at 30 September 2026

What was shared

Vidya Wires Ltd submitted the Monitoring Agency Report prepared by Brickwork Ratings India Private Limited for the quarter ended 30 September 2026. This is the Fourth Monitoring Agency Report on the use of money raised through the company's Initial Public Offer (IPO).

The main finding

The Monitoring Agency has confirmed that there is no deviation in utilisation of the IPO proceeds from the objects stated in the offer document. In the agency's checklist, the question whether all utilisation is as per the disclosures in the Offer Document is answered Yes, and the question on unfavourable events affecting the viability of the objects is answered No.

The IPO at a glance (as per the offer document)

• Issue size: Rs. 300.005 crore
• Fresh Issue: 52,692,307 equity shares at Rs. 52 each, value Rs. 274.00 crore
• Offer for Sale: 5,001,000 equity shares, value Rs. 26.005 crore
• Total securities: 57,693,307 shares; amount received Rs. 300.00 crore

Object-wise spending (Rs. crore, position as at 30 September 2026)

• Setting up a new project in subsidiary ALCU: proposed 140.00, used 124.25, unutilised 15.75
• Repayment/pre-payment of certain borrowings: proposed 100.00, used 100.00, unutilised 0.00
• General corporate purpose: proposed 12.296, used 12.81, unutilised -0.51
• Issue expenses: proposed 21.704, used 20.72, unutilised 0.98

Where the unutilised money is parked

• ICICI Bank FD (008513037051): Rs. 17.39 crore, maturity 21-12-2026, return 6.35%
• ICICI Public offer account (405164238): Rs. 0.21 crore
• ICICI Monitoring Account (405164278): Rs. 0.01 crore

The report states that the amount to be used for general corporate purposes does not exceed 25% of the gross proceeds of the Fresh Issue.

Progress status

The ALCU project and issue expenses are shown as Ongoing, with the completion date as per the offer document given as "Up to Financial Year 2026-27". Repayment/pre-payment of borrowings and general corporate purpose are shown as Completed.

What this means for a retail investor

A monitoring agency is an independent entity appointed to check, quarter after quarter, that money raised in an IPO is actually spent on the purposes stated in the offer document. A "no deviation" confirmation, together with the object-wise spending table, lets an investor track how much of the promised spending has actually happened. Here, the largest object, the Rs. 140.00 crore ALCU project, has about Rs. 15.75 crore still to be spent, while the borrowing repayment object is fully used at Rs. 100.00 crore. The report is a periodic status update on the use of IPO money and does not comment on the company's business performance.

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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