Crisil monitoring report: Rs 140 crore preferential issue proceeds used for capital expenditure
Xpro India has shared Crisil Ratings' monitoring agency report for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- Issue Proceeds
- net proceeds of Rs 140 crore
- Reporting Period
- quarter ended September 30, 2026
- Deviation from Objects
- Not applicable
What the update says
Xpro India Limited has submitted to the stock exchanges the Monitoring Agency Report issued by Crisil Ratings Limited for the quarter ended September 30, 2026, in relation to its Preferential Issue of equity shares.
Issue backdrop
- The preferential issue ran from January 18, 2024 to January 25, 2024.
- It was an issue of equity shares, and the issue size comprised net proceeds of Rs 140 crore.
- The promoter named in the report is Intellipro Finance Pvt Ltd, and the company belongs to the polymer processing and manufacturing sector.
- Crisil Ratings was appointed as the monitoring agency with effect from 06 June 2024, after the company terminated its agreement with the earlier monitoring agency, effective 02 June 2024. Crisil monitors the utilisation of the issue proceeds until 100% utilisation.
What Crisil reports for the quarter
- On whether all utilisation is as per the disclosures in the offer document, the reply is Yes.
- Crisil's comment is that the proceeds are utilised towards capital expenditure of the company.
- Deviation from the objects: Not applicable. Range of deviation: Not applicable.
The monitoring agency says it prepared the report using a peer reviewed independent auditor certificate, a management undertaking, the notice to the extraordinary general meeting dated December 24, 2023, and bank statements. It also states that it does not perform an audit or independently verify the information and certificates it receives.
How to read this
This is a periodic compliance-style update confirming that the money raised in the preferential issue is being spent on capital expenditure, in line with what was disclosed when the shares were issued. The absence of any deviation means the company has so far used the funds for the stated purpose. It is best read as a status check on fund utilisation rather than as an update on the company's operations or financial results.
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More numbers
- Issue size (net proceeds)Rs 140 crore
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