Sona BLW Precision Forgings Limited (SONACOMS) has submitted the Monitoring Agency Report from CRISIL Ratings Limited for the quarter ended 31st March, 2025, detailing the utilisation of net proceeds from its Qualified Institutional Placement (QIP). The QIP, conducted from 4th September, 2024 to 9th September, 2024, raised net proceeds of ₹23,695.00 million.

Key highlights of the utilisation as at 31st March, 2025:

• Total utilised amount stands at ₹14,502.94 million.
• During the quarter ended 31st March, 2025, ₹145.50 million was utilised towards 'Purchase of fixed assets, including, equipment and machinery'. The total utilised for this object is ₹596.50 million (out of ₹673.00 million proposed), leaving ₹76.50 million unutilised.
• 'Repayment / pre-payment of certain outstanding borrowings' (₹8,250.00 million) and 'General corporate purposes' (₹5,656.44 million) were fully utilised in the quarter ended September 2024.
• 'Payment of balance consideration in relation to the acquisition of Novelic' (₹715.56 million proposed) and 'Pursue strategic investments and organic and inorganic growth opportunities' (₹8,400.00 million proposed) saw no utilisation during the reported quarter. The full proposed amounts for these objects remain unutilised.
• The total unutilised amount from the QIP proceeds as at 31st March, 2025, is ₹9,192.06 million.
• The unutilised funds of ₹9,192.06 million are deployed in Fixed Deposits with YES Bank (₹2,900.00 million) and SBI Bank (₹715.56 million and ₹5,500.00 million), and Mutual Fund SBI Overnight (₹76.50 million). The market value of these investments as at the quarter end was ₹9,238.60 million.
• The report states there were no deviations from the objects disclosed in the Offer Document.

The report is based on information provided by the company and certified by their Statutory Auditors, Walker Chandiok & Co LLP.