Amber Enterprises: Q2FY26 QIP Funds Utilized, Divisions Shift Focus

Amber Enterprises India Limited has reported on the utilization of proceeds from its Qualified Institutions Placement (QIP) for the quarter ended September 30, 2025. The company raised ₹1,000 crore through the QIP, which occurred between September 16 and September 22, 2025. According to the Monitoring Agency Report prepared by CARE Ratings Limited, ₹986 crore has been utilized as per the offer document disclosures.

A significant portion of the funds, ₹900 crore, was used for the repayment/pre-payment of outstanding borrowings of the company and its subsidiaries, including PICL (India) Private Limited, Sidwal Refrigeration Industries Private Limited, and ILJIN Electronics (India) Private Limited. An additional ₹86 crore was utilized towards general corporate purposes, specifically for working capital repayment, including interest thereon. This exceeds the ₹82.14 crore initially specified for general corporate purposes in the placement document but aligns with the provision that up to 25% of gross proceeds can be used for general corporate purposes.

The Monitoring Agency Report, reviewed by the audit committee and board of directors on November 6, 2025, indicated no deviations from the stated objects or range of deviation. As of the quarter's end, ₹14 crore remains unutilized and is held in an Escrow Account. No delays were reported in the implementation of the objects as per the offer document.