Asahi India Glass Limited has submitted its quarterly monitoring agency report for the period ended December 31, 2025, detailing the utilization of proceeds from its ₹1000.00 crore Qualified Institutions Placement (QIP). The report, mandated under Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates complete adherence to the stated objectives of the fund raising.

QIP Issue Details and Structure

The QIP was conducted as a private placement of equity shares from September 15, 2025, to September 18, 2025, raising ₹1000.00 crore. CARE Ratings Limited serves as the monitoring agency for tracking the deployment of these proceeds.

Fund Utilization During Q3FY26

The monitoring agency report confirms that during Q3FY26, the company utilized ₹748.64 crore across the three stated objectives, completing the deployment of all QIP proceeds.

Debt Repayment Activities

The largest portion of the proceeds, ₹691.25 crore during Q3FY26, was deployed for term loan repayments to multiple financial institutions. The company completed repayments to:

• Bajaj Finserv
• Shinhan Bank
• Bank of Bahrain
• Bank of Baroda
• Central Bank
• Citi Bank

This completed the total debt repayment objective of ₹750.00 crore as outlined in the placement document.

General Corporate Purposes Deployment

For general corporate purposes, the company utilized ₹53.60 crore during Q3FY26, primarily for vendor payments. Notably, ₹49.89 crore of this amount was used to repay working capital demand loans (WCDL) from HDFC Bank that were originally borrowed for vendor payments.

The monitoring agency noted that an additional ₹3.70 crore from the issue expenses category was reallocated to general corporate purposes, as the actual issue expenses of ₹4.40 crore were lower than the projected ₹8.10 crore. This reallocation remained within the 25% limit for general corporate purposes as specified in the placement document.

Regulatory Compliance and Monitoring

CARE Ratings Limited confirmed no deviations from the objects stated in the offer document. The monitoring agency verified that:

• All utilization aligned with disclosures in the placement document
• No material deviations requiring shareholder approval occurred
• All government and statutory approvals related to the objectives were obtained
• No unfavorable events affected the viability of the stated objects

The report was prepared based on chartered accountant certificates from VSSA & Associates dated January 20, 2026, bank statements, and management undertakings, ensuring comprehensive verification of fund deployment.

Completion Status

The company has successfully completed all three objectives of the QIP within the targeted fiscal year 2026, with no delays reported in implementation. The monitoring agency confirmed that the total utilization under general corporate purposes did not exceed the 25% limit of issue proceeds, maintaining compliance with regulatory requirements.

Asahi India Glass Limited has scheduled a board meeting on January 30, 2026, to consider its third quarter financial results for FY26. The company formally notified the National Stock Exchange of India and BSE Limited about the upcoming board meeting through an official communication dated January 23, 2026.

Board Meeting Details

The meeting agenda includes consideration, approval, and recording of the company's unaudited financial results for specific periods:

Trading Window Closure

In accordance with the company's Code of Conduct and SEBI (Prohibition on Insider Trading) Regulations, 2015, Asahi India Glass Limited has implemented a trading window closure. This restriction affects all directors, officers, and designated employees classified as insiders.

Corporate Communication

The official notification was signed by Gopal Ganatra, Executive Director, General Counsel & Company Secretary, with membership number F7090. The communication was digitally signed on January 23, 2026, and sent to both major stock exchanges where the company is listed.

Stock Exchange Listing Information

Asahi India Glass Limited trades on both major Indian stock exchanges with the following codes:

• NSE Code: ASAHIINDIA
• BSE Code: 515030

The company maintains its corporate office in Gurugram, Haryana, and registered office in New Delhi. This board meeting announcement follows standard regulatory disclosure requirements under SEBI listing obligations, ensuring transparency for investors and market participants ahead of the quarterly results declaration.