Azad Engineering: Monitoring Agency Report for QIP Proceeds (Sep 30, 2026)

Azad Engineering Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, concerning the utilization of funds raised through a Qualified Institutional Placement (QIP). The report, issued by CARE Ratings Limited, indicates no deviation from the stated objects of the issue. As of September 30, 2026, ₹75.54 crore of the ₹700.00 crore QIP proceeds remained unutilized. The company's board approved an extension of the implementation timeline for capital expenditure from March 31, 2026, to March 31, 2027, a decision deemed not to have an adverse impact on the company's operations or growth.