CRISIL Ratings Submits Q4FY26 Monitoring Agency Report for Interarch Building Solutions' IPO Proceeds

Interarch Building Solutions Limited (formerly known as Interarch Building Products Limited) has received the Monitoring Agency Report for the quarter ended March 31, 2026, from Crisil Ratings Limited, pertaining to the utilisation of proceeds from its Initial Public Offer (IPO). The report was submitted to the stock exchanges on May 15, 2026, in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 41(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

IPO Issue Overview

The company's IPO, which ran from August 19, 2024, to August 21, 2024, comprised a fresh issuance of Rs 2,000.00 million in equity shares. After accounting for issue expenses of Rs 119.02 million, the net proceeds available for deployment stood at Rs 1,880.98 million. The report was prepared on the basis of a peer-reviewed independent chartered accountant certificate dated April 28, 2026, issued by M/s Bansal & Co LLP, Chartered Accountants (Firm Registration Number: 001113S/N500079).

Particulars: Amount (Rs in million) Gross Proceeds from Fresh Issue: 2,000.00 Less: Issue Expenses: 119.02 Net Proceeds: 1,880.98

Revised Allocation of IPO Proceeds

The original allocation of IPO proceeds has been revised multiple times following shareholder approvals. The most recent revision, approved via special resolution dated March 28, 2026, reallocated Rs 26.50 million from Object 1, Rs 102.90 million from Object 2, and Rs 0.42 million from Object 6 towards a new object — "Civil and PEB of AP Heavy Facility-II at Andhra Pradesh" — amounting to Rs 129.82 million, with a revised utilisation timeline of March 31, 2027.

The revised cost allocation across all objects is summarised below:

Sr. No. Object Original Cost (Rs in million) Revised Cost (Rs in million) 1 Financing capital expenditure towards setting up the Project 585.33 220.93 2 Upgradation of Kichha, Tamil Nadu (I & II) and Pantnagar Manufacturing Facilities 192.46 284.76 3 IT infrastructure upgradation 113.92 113.92 4 Incremental working capital requirements 550.00 550.00 5 General Corporate Purposes (GCP) 430.37 486.97 6 Manufacturing Facility-II at Andhra Pradesh (land acquisition) — 94.58 7 Civil and PEB of AP Heavy Facility-II at Andhra Pradesh — 129.82 Subtotal 1,872.08 1,880.98 8 Issue Expenses 127.92 119.02 Total 2,000.00 2,000.00

Utilisation Progress for the Quarter Ended March 31, 2026

During the quarter ended March 31, 2026, the company utilised Rs 7.79 million across various objects, bringing the cumulative utilisation to Rs 1,707.32 million out of the total Rs 2,000.00 million. The total unutilised amount as at the end of the reported quarter stood at Rs 292.68 million.

Object: Proposed Amount (Rs in million) Utilised at Beginning of Quarter (Rs in million) Utilised During Quarter (Rs in million) Utilised at End of Quarter (Rs in million) Unutilised (Rs in million) Object 1 – Setting up the Project 220.93 179.97 2.96 182.93 38.00 Object 2 – Manufacturing Facility Upgradation 284.76 220.24 4.80 225.04 59.72 Object 3 – IT Infrastructure 113.92 49.32 0.00 49.32 64.60 Object 4 – Working Capital 550.00 550.00 0.00 550.00 0.00 Object 5 – GCP 486.97 486.97 0.00 486.97 0.00 Object 6 – AP Land Acquisition 94.58 94.58 0.00 94.58 0.00 Object 7 – Civil and PEB of AP Heavy Facility-II 129.82 0.00 0.00 0.00 129.82 Sub-Total 1,880.98 1,581.08 7.76 1,588.84 292.14 Issue Expenses 119.02 118.45 0.03 118.48 0.55 Total 2,000.00 1,699.53 7.79 1,707.32 292.68

Deployment of Unutilised Proceeds

The unutilised IPO proceeds of Rs 292.68 million have been deployed in fixed deposits and bank accounts. As at March 31, 2026, the total market value of these investments stood at Rs 306.19 million, with earnings of Rs 38.02 million recorded.

Instrument: Amount Invested (Rs in million) Earnings as on March 31, 2026 (Rs in million) Return on Investment (%) Market Value (Rs in million) Fixed Deposit – YES Bank 190.00 22.32 6.45 196.32 Fixed Deposit – HDFC Bank 102.10 15.70 5.75 109.29 Balance – Monitoring Agency Account (HDFC Bank) 0.03 NA NA 0.03 Balance – Current Account (IndusInd Bank) 0.55 NA NA 0.55 Total 292.68 38.02 — 306.19

Implementation Delays and No Deviations

The Monitoring Agency confirmed no deviation from the objects of the issue during the quarter ended March 31, 2026. However, delays in implementation were noted for three objects:

Object 1 (Setting up the Project): Against an estimated utilisation of Rs 220.93 million by Fiscal 2026, only Rs 182.93 million had been utilised as at the end of the reported quarter.

Object 2 (Manufacturing Facility Upgradation): Against an estimated utilisation of Rs 284.76 million by Fiscal 2026, only Rs 225.05 million had been utilised as at the end of the reported quarter.

Object 3 (IT Infrastructure): Against an estimated utilisation of Rs 113.92 million by Fiscal 2025, only Rs 49.32 million had been utilised as at the end of the reported quarter.

In line with the Postal Ballot Notice dated February 19, 2026, the Board of Directors of the company, via a resolution dated May 13, 2026, accorded approval for utilisation of the unutilised proceeds during Financial Year 2026-27 towards the objects of the issue.

Interarch Building Solutions (formerly known as Interarch Building Products Limited) has submitted the audio recording of its earnings conference call held to discuss the financial results for the quarter and year ended March 31, 2026. The disclosure was made in compliance with Regulation 30 and 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Conference Call Details

The conference call was conducted on May 14, 2026, at 04:00 p.m. The audio recording of the proceedings is now available for access on the official website of the company. Investors and stakeholders can listen to the discussion regarding the financial performance for the specified period through the provided link.

Parameter Details Event: Earnings Conference Call Date: May 14, 2026 Time: 04:00 p.m. Period Covered: Quarter & Year ended March 31, 2026 Recording Access: Company Website

The submission ensures that all market participants have equal access to the management's commentary on the financial results. The company has requested the stock exchanges to take the submission on record.

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