CRISIL monitoring report: no deviation in QIP proceeds utilisation
Wockhardt has shared CRISIL Ratings' Monitoring Agency Report on the use of money raised through its Qualified Institutional Placement (QIP), for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- Gross proceeds (QIP)
- Rs 1,000.00 crore
- Net proceeds (revised)
- Rs 977.79 crore (revised from Rs 973.97 crore)
- Deviation from objects
- No deviation from the stated objects
A quarterly check on how the QIP money was spent
CRISIL Ratings, appointed as the monitoring agency for Wockhardt's Qualified Institutional Placement, has given its report on the utilisation of the issue proceeds for the quarter ended September 30, 2026. The company has also confirmed there was no deviation from the objects stated in its Placement Document dated November 11, 2024.
What the report states
- Deviation from the objects: No; range of deviation: not applicable.
- Whether all utilisation is as per the disclosures in the Offer Document: Yes.
- Whether the means of finance for the disclosed objects has changed: No.
- The report was reviewed and taken on record by the Board of Directors and the Audit Committee.
The QIP in numbers
- Type of issue: Qualified Institutional Placement of equity shares, issue period November 06, 2024 to November 11, 2024.
- Gross proceeds: Rs 1,000.00 crore.
- Net proceeds: Rs 977.79 crore, and this revised figure is what CRISIL monitors.
- The net proceeds were revised from Rs 973.97 crore to Rs 977.79 crore because actual issue expenses were lower than estimated by Rs 3.82 crore, and that amount was adjusted with Object 3: General Corporate Purposes.
Why this matters
A monitoring agency report is an outside check that funds raised from large institutional investors are being used for the purposes the company set out. A "no deviation" finding means, for this quarter, the spending is in line with the plan disclosed to investors.
What the agency itself says
CRISIL states that its report is based on information provided by the company and from sources it believes reliable, and that it does not perform an audit or independent verification of the information and certificates it receives. The comments attributed to the Board of Directors are captured by the company's management and board after the agency submits its report, and the agency states it has not reviewed those comments.
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More numbers
- QIP gross proceedsRs 1,000.00 crore
- QIP net proceeds (being monitored)Rs 977.79 crore
- Net proceeds before revisionRs 973.97 crore
- Lower actual issue expenses, adjusted to General Corporate PurposesRs 3.82 crore
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