Techno Electric & Engineering Reports on Fund Utilization from QIP Raise
Techno Electric & Engineering Company Limited released a statement detailing the utilization of funds raised through a Qualified Institutional Placement (QIP). The report provides updates on the deployment of the capital and confirms the compliance status as of the quarter ending March 31, 2026.According to the submitted statement, the company raised funds via a QIP on July 19, 2024. The total amount raised through this method was Rs. 12500 Million.
The utilization status was reported for the quarter ended March 31, 2026. The monitoring agency for the fund deployment is Care Ratings Limited.
The key details regarding the fund utilization and deviation status are presented below:
| Parameter | Detail |
|---|---|
| Listed Entity | Techno Electric & Engineering Company Limited |
| Mode of Fund Raising | QIP |
| Date of Raising Funds | 19.07.2024 |
| Amount Raised | Rs. 12500 Million |
| Quarter End Date for Report | 31.03.2026 |
| Monitoring Agency | Care Ratings Limited |
| Deviation/Variation Observed | No |
| Deviation Status | Not Applicable |
The company confirmed that there was no deviation reported regarding the utilization of the funds raised. The statement noted 'No Deviation' for the reporting period.
TECHNOE Stock Price Movement
On Monday, shares of Techno Electric & Engineering Company Limited edged higher, closing at ₹1373 and marking a gain of 1.69%. The stock saw robust investor activity, trading a total volume of 559,901 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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