Afcons Infrastructure Limited has filed its quarterly compliance statement regarding the utilization of Non-Convertible Debentures (NCDs) proceeds for the quarter ended December 31, 2025. The statement was submitted to BSE Limited and National Stock Exchange of India Limited in accordance with Regulation 52(7) of the SEBI (LODR) 2015.

Fund Raising and Utilization Details

The company successfully raised funds through private placement of Non-Convertible Debentures, demonstrating efficient capital deployment during the reporting period.

Compliance and Deviation Status

The quarterly statement confirms complete adherence to the original fund utilization plan without any deviations or variations. The company reported no deviation in either the objects or purposes for which the funds were raised, nor in the amount of funds utilized against the original disclosure.

Regulatory Filing Details

The statement was digitally signed by key company officials, ensuring proper authorization and compliance. Company Secretary and Compliance Officer Gaurang Parekh (Membership No. F8764) and Chief Financial Officer Ramesh Kumar Jha both authenticated the filing on February 10, 2026.

The company's ISIN number INE101I08081 and stock exchange symbols (BSE: 544280, NSE: AFCONS) were referenced in the filing, maintaining transparency in regulatory communications. The complete utilization of NCD proceeds within the specified quarter demonstrates the company's efficient capital management and adherence to disclosed fund utilization plans.

Afcons Infrastructure Limited has successfully completed the full utilization of its Initial Public Offering (IPO) proceeds worth ₹12,500.00 million, according to the final monitoring agency report submitted to BSE and NSE for the quarter ended December 31, 2025. The comprehensive report, prepared by CRISIL Ratings Limited as the appointed monitoring agency, confirms that all funds have been deployed as per the original offer document without any material deviations.

IPO Proceeds Allocation and Utilization

The company's IPO, conducted from October 25-29, 2024, raised gross proceeds of ₹12,500.00 million through fresh equity shares. After accounting for issue expenses of ₹353.63 million, the net proceeds available for utilization stood at ₹12,146.37 million.

Monitoring Agency Assessment

CRISIL Ratings Limited, in its final monitoring report, confirmed several key compliance aspects:

• All utilization aligned with disclosures in the offer document
• No major deviations observed from earlier monitoring reports
• No unfavorable events affecting the viability of stated objects
• General corporate purpose utilization remained within the 25% regulatory limit

Fund Deployment Timeline

The utilization pattern demonstrates the company's systematic approach to fund deployment. The debt repayment and working capital requirements were addressed first, completed by December 31, 2024, followed by general corporate purposes by March 31, 2025, and finally construction equipment purchases by September 30, 2025.

Regulatory Compliance

The final monitoring report was submitted pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report was certified by HDS & Associates, LLP, the company's joint statutory auditors, on January 22, 2026.

With the complete utilization of IPO proceeds, Afcons Infrastructure has fulfilled its commitments to investors and regulatory authorities, positioning the company to leverage the enhanced financial resources for its civil construction business operations.