News ArticleKingfa Science & Technology Utilizes Rs.18.60 Crore of Rs.500 Crore Preferential Issue by Q2 FY27 End
CARE Ratings Limited’s Monitoring Agency Report confirms no deviation in fund use for expansion and corporate purposes
Kingfa Science & Technology India Limited's Monitoring Agency Report confirms Rs.18.60 crore utilization of Rs.500 crore preferential issue proceeds as of September 30, 2026, with no deviations from disclosed objectives. The report covers fund deployment across factory expansion, R&D, machinery, and land acquisition as per SEBI regulations.
Kingfa Science & Technology (India) Limited
Preferential Issue
Kingfa Science & Technology (India) Limited utilized Rs.18.60 crore of the Rs.500 crore raised through a preferential equity issue as of September 30, 2026, maintaining adherence to planned expenditure objectives according to a CARE Ratings monitoring report.
The company's preferential issue, amounting to Rs.500 crore, is monitored by CARE Ratings as per Securities and Exchange Board of India regulations ensuring appropriate use of proceeds.
Utilization covered capital expenditure including factory building construction in Chakan Pune, R&D infrastructure, plant machinery procurement, land acquisition for expansion in South India, and general corporate purposes.
No deviation or change in the original cost projections for the project components was noted during the quarter.
Government and statutory approvals required for the projects are in process or obtained as applicable, with no unfavorable events affecting project viability reported.
The monitoring agency declared no conflict of interest and confirmed the report is based on documents including Chartered Accountant certificates, management and bank statements.
Highlights
- Rs.18.60 crore utilized towards preferential issue objects in Q2 FY27
- Total issue size: Rs.500 crore in equity shares by preferential allotment
- No reported deviation from the objects as per SEBI regulations
- Project involves factory expansion, plant machinery, land acquisition and corporate purposes
- No change in original project cost estimates reported during the quarter
Key Data Snapshot
What happened
- Kingfa Science & Technology raised Rs.500 crore via preferential equity issuance.
- CARE Ratings Limited provided a monitoring report confirming proper utilization of the funds.
- By the quarter ended September 30, 2026, Rs.18.60 crore had been deployed toward the intended project objectives.
Key details
- The funds are allocated to factory construction, R&D building, plant machinery, land acquisition for expansion, and general corporate purposes.
- No changes or deviations in the cost estimates compared to the original offer document were observed.
- Securities and Exchange Board of India (SEBI) compliance is maintained through quarterly monitoring agency reports.
- Statutory approvals required have been or are being obtained as needed.
Regulatory and governance context
- Monitoring conducted as per SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
- Report includes independent verification by CARE Ratings Limited but not an audit.
- The management provides certificates and supporting documentation including Chartered Accountant certificates to the monitoring agency.
- There is no conflict of interest reported between Kingfa and CARE Ratings in connection to this monitoring.
Highlights
- Rs.18.60 crore utilized towards preferential issue objects in Q2 FY27
- Total issue size: Rs.500 crore in equity shares by preferential allotment
- No reported deviation from the objects as per SEBI regulations
- Project involves factory expansion, plant machinery, land acquisition and corporate purposes
- No change in original project cost estimates reported during the quarter
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Regulation 32(6)
- SEBI (Issue of Capital & Disclosure Requirements) Regulations
Kingfa Science & Technology Co. Ltd (KSTCL) is the promoter
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