Balu Forge Industries Limited has submitted its Monitoring Agency Report for the quarter ended March 31, 2026, as required by SEBI regulations. The report, issued by Infomerics Valuation and Rating Pvt. Ltd., confirms that there have been no deviations or variations in the utilization of proceeds raised through a Preferential Issue. The company raised approximately ₹496.80 crore through a Preferential Issue, which included the issuance of equity shares and share warrants. As of March 31, 2026, a total of ₹471.12 crore has been utilized towards the stated objects, with a remaining unutilized balance of ₹25.68 crore. The objects of the issue include purchase and installation of new and existing plant and machinery, working capital requirements, and general corporate purposes. During the quarter, ₹147.12 crore was utilized. The unutilized amount of ₹25.68 crore was held in the company's current account (₹24.89 crore) and monitoring account (₹0.79 crore). The report explicitly states 'Nil' for deviation from objects and 'Nil' for the range of deviation. The company has ensured that the utilization of funds is in line with the offer document and has obtained necessary approvals. No material deviations were observed compared to earlier monitoring agency reports.
