Xpro India reports on QIP and preferential issue fund utilization

Xpro India Limited's preferential issue, with net proceeds of INR 140 crore, saw funds utilized for working capital facilities, capital expenditure in Xpro Dielectric Films FZ-LLC, and general corporate purposes. Capital expenditure for expanding manufacturing lines for dielectric and other technical grades of biaxially oriented polypropylene film utilized INR 9.78 crore in the quarter, with INR 90.22 crore remaining unutilized.

For the qualified institutional placement (QIP), with gross proceeds of INR 1,500 million (net proceeds of INR 1,441.83 million), funds were allocated to part-funding capital expenditure (INR 282.70 million fully utilized by March 2025), pre-payment of outstanding borrowings (INR 98.80 million, with INR 0.12 million utilized in the quarter), and working capital requirements (INR 660.00 million fully utilized by December 2024). Additionally, INR 23.16 million was utilized for enterprise resource planning software system implementation, leaving INR 11.84 million unutilized.

General corporate purposes for the QIP accounted for INR 365.33 million, fully utilized by September 2025. The monitoring agency, Crisil Ratings Limited, confirmed that all utilization aligns with disclosures in the offer documents and all requisite government or statutory approvals for the current stage of projects have been secured.