Sensex
78,639.03 profit arw 544.39 (0.70%)
Nifty
24,774.30 profit arw 390.70 (1.60%)
Nasdaq
18,355.20 profit arw -497.09 (-2.64%)
logo img

GET IN TOUCH

GET IN TOUCH

Enter a 10 digit mobile number starting with 7, 8, or 9
Captcha verification code, enter the characters shown below

As on : 03-Aug-2026
Corporate News
03-Aug-2026     23:05

CARE Ratings report shows Rs 2,000 crore QIP funds used for Sanand plant expansion

CARE Ratings’ monitoring agency report, released this week, indicates that a company has utilized Rs 2,000 crore raised through a Qualified Institutional Placement, with the majority allocated to a Sanand plant expansion. As of June 2026, Rs 1,234.62 crore has been deployed for the expansion, exceeding the initially planned Rs 1,450 crore. While debt repayment was completed as planned in fiscal year 2025, only Rs 0.35 crore of the Rs 239.64 crore earmarked for general corporate purposes has been utilized. The report acknowledges a delay in the Sanand plant expansion, though the duration was not specified, and notes Rs 215.38 crore remains unutilized, generating Rs 87.32 crore in interest reinvested in fixed deposits. The Board of Directors has commented that the project is in progress.

INDIAN INDICES

Sensex

78,639.03 544.39 (0.70%)

Nifty

24,774.30 390.70 (1.60%)

GLOBAL INDICES

USD

NA

NASDAQ
HANG SENG

26,009.41 124.97(0.48%)