Apar Industries: Monitoring Agency Report for QIP Proceeds (Sep 2026)

Apar Industries Ltd has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, concerning the utilization of funds raised through a Qualified Institutions Placement (QIP) of approximately ₹2,500 crore. The report, issued by CARE Ratings Limited, confirms that the utilization of proceeds is in line with the objects disclosed in the offer document. During the quarter, ₹1,463.72 crore was utilized for working capital requirements, ₹448.42 crore for general corporate purposes, and ₹27.72 crore for offer expenses. As of September 30, 2026, ₹560.14 crore remains unutilized. There were no material deviations observed, and no shareholder approval was required for any expenditure changes.