Harsha Engineers International Ltd

💰 Harsha Engineers’ Fund Utilization: Key Insights & Delays

- IPO raised ₹455 Cr, with net proceeds of ₹429.4 Cr after ₹25.6 Cr issue expenses.

- ₹270 Cr used for pre-payment/repayment of borrowings (fully utilized).

- ₹77.95 Cr allocated for machinery purchase (fully utilized, with ₹4.44 Cr spent in Q2FY26).

- ₹7.12 Cr spent on infrastructure repairs & renovation (fully utilized).

- ₹74.33 Cr used for General Corporate Purpose (fully utilized by March 2023).

- 18-month delays in capital expenditure & infrastructure repairs, with deployment extended to FY26.

- No unutilized funds remained at the end of the quarter.