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Sansera Engineering’s QIP funds were appropriately utilized, confirms ICRA’s report
04-Aug-2026, 06:09
Sansera Engineering Limited stated that ICRA Limited, the monitoring agency for the company's qualified institutional placement (QIP), has confirmed in its report that there was no deviation in the utilization of funds raised through the QIP, as per the object of the issue. The QIP, completed in October 2024, raised net proceeds of Rs 1,174.979 crore, which have been deployed for repayment of borrowings, acquisition of land, capital expenditure, and general corporate purposes.
Sansera Engineering Limited stated that ICRA Limited, the monitoring agency for the company's qualified institutional placement (QIP), has confirmed in its report that there was no deviation in the utilization of funds raised through the QIP, as per the object of the issue. The QIP, completed in October 2024, raised net proceeds of Rs 1,174.979 crore, which have been deployed for repayment of borrowings, acquisition of land, capital expenditure, and general corporate purposes.