Pondy Oxides: QIP Funds Utilized, Unutilized Amount Deployed

Pondy Oxides & Chemicals Limited (POCL) announced the utilization of funds from its qualified institutional placement (QIP) for the quarter ended September 30, 2025. The QIP, which took place from December 17-20, 2024, involved the issuance of 20,34,883 equity shares at Rs. 860 per share, raising a total of Rs. 174.99 crore. After accounting for issue expenses of Rs. 6.03 crore, the net proceeds amounted to Rs. 168.96 crore.

According to monitoring agency CARE Ratings Limited, all utilization to date aligns with the disclosures in the offer document. As of September 30, 2025, Rs. 81.50 crore was allocated to funding working capital requirements, while Rs. 27.86 crore was spent on capital expenditure for setting up a recycling and processing unit in Tiruvallur, Tamil Nadu. An additional Rs. 37.71 crore was designated for general corporate purposes, and Rs. 6.03 crore covered issue expenses.

The report also highlighted an unutilized amount of Rs. 21.89 crore. This unutilized amount is currently deployed across various mutual funds and held in a QIP monitoring account. Specifically, Rs. 8.32 crore is invested in Kotak Liquid Fund, Rs. 10.00 crore in Kotak Income Plus Arbitrage Omni FoF, Rs. 3.50 crore in Invesco India Arbitrage Fund, and Rs. 0.07 crore remains in the monitoring account.