Key Quantitative Figures
- Amount raised through NCDs: ₹57.5 crore
- Funds utilized as of September 30, 2026: ₹57.5 crore
- Date of fund raising: September 21, 2026
Parties Involved
- Listed Entity: Ballarpur Industries Limited
- Debenture Trustee: CATALYST TRUSTEESHIP LIMITED
- Auditors: Batliboi and Purohit (Firm Registration No.: 101048W)
- Auditor Signatory: Parag Hangekar, Partner (Membership No.: 110096)
Fund Utilization Details
- Mode of fund raising: Private placement
- Type of instrument: Non-Convertible Debentures
- Purpose of funds: Working capital, refinancing requirements, and capital expenditure
- No deviation or variation in use of issue proceeds reported
- Monitoring agency: Not Applicable
Audit and Review Process
- The Statement of Deviation was reviewed and approved by the Audit Committee on November 13, 2026
- Independent practitioners (Batliboi and Purohit) examined the utilization of funds
- Examination included verification with bank statements, books of account, ledgers, vouchers, and supporting documents
- The unaudited standalone financial results for quarter and half year ended September 30, 2026 were reviewed
- Practitioners followed Standard on Review Engagements (SRE) 2410 and Guidance Note on Reports or Certificates for Special Purposes
Conclusion
Based on the examination, the practitioners reported that the entire ₹57.5 crore raised through NCDs has been utilized up to September 30, 2026. No funds were utilized for purposes other than those stated in the offer document and Debenture Trust Deed, and no deviation or variation in the use of issue proceeds was identified.