Gravita India Limited has completed the full utilisation of proceeds raised through its Qualified Institutional Placement (QIP), according to the final Monitoring Agency report for Q4 FY2026 submitted by ICRA Limited on May 07, 2026. The report, prepared pursuant to Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirms that all utilisation is in line with the objects disclosed in the offer document, with no deviations recorded.

QIP Issue Overview

The QIP was conducted between December 16, 2024, and December 19, 2024, with ICRA Limited appointed as the Monitoring Agency under an agreement dated December 16, 2024. The key details of the issue are summarised below:

Utilisation of QIP Proceeds

The net proceeds of INR 981.42 crores were allocated across three primary objects as per the offer document. As at the end of Q4 FY2026 (March 31, 2026), all three objects have been fully utilised with nil unutilised balance. The progress in utilisation during and prior to the quarter is detailed below:

Notably, during Q4 FY2026, Rs. 90.53 crores was utilised toward the repayment and pre-payment of outstanding borrowings, completing the full allocation of Rs. 530.00 crores earmarked for this object. All three objects — debt repayment, working capital funding, and general corporate purposes — were completed within FY2026 as scheduled, with no delays reported.

Breakdown of General Corporate Purpose Utilisation

The General Corporate Purpose (GCP) allocation of Rs. 201.42 crores was deployed across multiple operational heads, as certified by R Sogani & Associates. The detailed breakdown is as follows:

Monitoring Agency Findings

ICRA Limited, in its capacity as Monitoring Agency, confirmed the following key findings for Q4 FY2026:

• No deviations observed from the objects of the issue as disclosed in the offer document
• All utilisation verified through Peer Review CA Certificates, bank account statements, and management confirmations
• No material deviations as defined under SEBI regulations (i.e., no deviation in objects or in amounts by more than 10% of the offer document figures)
• No unfavorable or favorable events reported that could materially affect the viability of the objects
• No unutilised proceeds remain; deployment of idle funds table records Nil
• The means of finance for the disclosed objects has not changed

The report was signed by Parul Goyal Narang, Vice President & Head – Process Excellence, ICRA Limited, on May 07, 2026, and was submitted to the stock exchanges by Nitin Gupta, Company Secretary (FCS: 9984), Gravita India Limited, on the same date. The company, engaged in the recycling of Lead, Aluminium, and Plastic, has its promoters listed as Rajat Agrawal and Rajat Agrawal Trustee of Agrawal Family Private Trust, as sourced from BSE.

Gravita India Limited has announced the acquisition of additional shares in its subsidiary Rashtriya Metal Industries Limited (RMIL), further consolidating its ownership stake in the company. The acquisition was disclosed through a regulatory filing dated 16th April, 2026, submitted to both BSE and NSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share Acquisition Details

The company has acquired 20,400 shares of Rashtriya Metal Industries Limited, representing 0.49% of the subsidiary's total shareholding. This acquisition follows an earlier disclosure made by the company on 12th March, 2026, indicating ongoing efforts to increase its stake in the subsidiary.

Increased Ownership Structure

As a result of this latest acquisition, Gravita India's shareholding in Rashtriya Metal Industries Limited has increased from 98.95% to 99.44%. This brings the company's ownership stake very close to complete control of the subsidiary, with only a minimal 0.56% remaining with other shareholders.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Nitin Gupta, Company Secretary (FCS: 9984), and submitted to both major stock exchanges where the company is listed.

Corporate Information

Gravita India Limited operates from its corporate office at Gravita Tower, A-27 B, Shanti Path, Tilak Nagar, Jaipur-302004, Rajasthan. The company's registered office is located at 'Saurabh', Chittora Road, Diggi-Malpura Road, Tehsil: Phagi, Jaipur-303 904, Rajasthan. This strategic acquisition demonstrates the company's commitment to strengthening its subsidiary operations and maintaining consolidated control over its business units.