Hi-Tech Pipes: QIP Proceeds Utilization Report for Q2 FY27

Hi-Tech Pipes Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, concerning the utilization of Qualified Institutional Placement (QIP) proceeds. The report, issued by CRISIL Ratings Limited, indicates that for the reported quarter, there were no deviations from the stated objects of the QIP. However, it notes a past instance in the quarter ended December 31, 2025, where unutilized proceeds were deposited in an equity mutual fund, which was deemed to carry inherent risks and not fully aligned with the disclosures in the Placement Document. The company has taken the report on record as per SEBI regulations.