News Corporate Actions JNK India Limited Files Q3FY26 Monitoring Agency Report with Stock ExchangesJNK India Limited Files Q3FY26 Monitoring Agency Report with Stock Exchanges
JNK India Limited submitted its Q3FY26 monitoring agency report prepared by CRISIL Ratings Limited, detailing utilization of ₹2,796.64 million from ₹2,821.84 million IPO proceeds. The company deployed ₹4.09 million during the quarter primarily for working capital requirements, while ₹25.20 million unutilized funds are invested in fixed deposits across major banks generating returns up to 6.95%.
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JNK India Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, to BSE Limited and National Stock Exchange of India Limited on February 13, 2026. The report, prepared by CRISIL Ratings Limited as the monitoring agency, provides details on the utilization of proceeds from the company's Initial Public Offer (IPO) conducted in April 2024.
IPO Proceeds Utilization Overview
The company's IPO raised ₹3,000.00 million through fresh issuance, with net proceeds of ₹2,821.84 million after accounting for issue expenses. The net proceeds were revised upward by ₹24.45 million due to actual issue expenses being lower than estimated.
| Parameter: | Amount (₹ million) |
|---|---|
| Original Net Proceeds: | 2,797.39 |
| Revised Net Proceeds: | 2,821.84 |
| Total Utilized (Q3FY26): | 2,796.64 |
| Unutilized Amount: | 25.20 |
Object-wise Fund Deployment
The IPO proceeds were allocated across two primary objectives, with the majority earmarked for working capital requirements.
Working Capital Requirements
Out of the allocated ₹2,651.35 million for working capital, the company has utilized ₹2,626.64 million by the end of Q3FY26. During the quarter, ₹4.09 million was deployed, with a portion earmarked against bank guarantees for ongoing projects.
| Metric: | Amount (₹ million) |
|---|---|
| Allocated Amount: | 2,651.35 |
| Utilized Amount: | 2,626.64 |
| Quarterly Utilization: | 4.09 |
| Remaining Balance: | 24.71 |
General Corporate Purposes
For general corporate purposes, ₹170.49 million was allocated, of which ₹170.00 million has been utilized, leaving ₹0.49 million unutilized. No funds were deployed under this category during Q3FY26.
Deployment of Unutilized Proceeds
The company has strategically invested the unutilized ₹25.20 million in fixed deposits across major banks to generate returns while maintaining liquidity.
| Bank: | Amount (₹ million) | Maturity Date | Return Rate | Market Value |
|---|---|---|---|---|
| HDFC Bank: | 20.94 | May 8, 2026 | 6.95% | 21.89 |
| ICICI Bank: | 3.33 | May 8, 2026 | 6.85% | 3.48 |
| SBI: | 0.67 | March 20, 2026 | 4.90% | 0.67 |
| ICICI Bank: | 0.25 | June 20, 2026 | 4.25% | 0.25 |
| Total: | 25.20 | - | - | 26.30 |
Regulatory Compliance and Monitoring
The monitoring agency report confirms that all proceeds utilization aligns with disclosures made in the offer document. CRISIL Ratings Limited, appointed as the monitoring agency under the agreement dated April 13, 2024, verified that no material deviations occurred from the stated objectives.
The report indicates total earnings of ₹1.10 million from the invested unutilized proceeds, bringing the market value to ₹26.30 million. The company maintains compliance with SEBI regulations, with the monitoring process ensuring transparency in fund deployment.
Management Certification
The report is based on management undertakings and certifications from CVK & Associates, Chartered Accountants, dated February 4, 2026. The monitoring agency confirmed no delays in implementation of stated objects and no unfavorable events affecting project viability during the reporting period.
Historical Stock Returns for JNK India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.37% | -3.97% | +15.32% | -20.67% | -22.85% | -66.08% |
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