Monitoring Agency Report

IGESL: NOI: 2026 11th August, 2026 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (E) Mumbai 400 001 Mumbai 400 051 Scrip code: 543667 Scrip code: INOXGREEN Sub: Submission of Report of the Monitoring Agency with respect to utilisation of proceeds from Preferential Issue of Inox Green Energy Services Limited (the Company) Dear Sir/ Madam, Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Monitoring Agency Report for the quarter ended 3oth June, 2026 in relation to the utilization of proceeds from Preferential Issue of the Company issued by CARE Ratings Limited, Monitoring Agency appointed as per Regulation 162A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. You are requested to take the above on record. Thanking You Yours faithfully, For Inox Green Energy Services Limited Anup Kumar Jain Company Secretary Encls: A/a No. CARE/NRO/GEN/2026-27/1092 The Board of Directors Inox Green Energy Services Limited INOXGFL Towers, 17 Sector 16 A, Noida, Uttar Pradesh 201301 08/11/2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended 06/30/2026 - in relation to the Preferential Issue of Inox Green Energy Services Limited (“the Company”) We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs. 1050 crore of the Company and refer to our duties cast under Regulation 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended 06/30/2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated 06/26/2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Shailendra Singh Baghel Associate Director Shailendra.Baghel@careedge.in CARE Ratings Limited 9th floor, C-001/A2, Berger Towers, Sector 16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Road, Off Eastern Express Highway, Sion (East), Gautam Budh Nagar, Uttar Pradesh -201301 Mumbai - 400 022 Phone: +91-120-4452000 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in Report of the Monitoring Agency Name of the issuer: Inox Green Energy Services Limited For quarter ended: 06/30/2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Shailendra Singh Baghel Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited 9th floor, C-001/A2, Berger Towers, Sector 16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Road, Off Eastern Express Highway, Sion (East), Gautam Budh Nagar, Uttar Pradesh -201301 Mumbai - 400 022 Phone: +91-120-4452000 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in 1) Issuer Details: Name of the issuer : Inox Green Energy Services Limited Name of the promoter : Inox Wind Limited Industry/sector to which it belongs : Wind Power 2) Issue Details Issue Period : 07/25/2024 to 08/07/2024 Type of issue (public/rights) : Preferential Issue Type of specified securities : Equity Shares and Convertible Warrants IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 1050.00 crore [*Out of Rs. 1050.00 crore issue size, the company has received Rs. 966.30 crore as on June 30, 2026] 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications considered Comments of the Comments of the Particulars Reply by Monitoring Agency for Monitoring Agency Board of Directors preparation of report* The proceeds from the preferential issue have been partially utilized and Based on the certificates the unutilized amount has been parked in deposits with scheduled issued by Independent commercial banks and as balance in monitoring account. Chartered Accountant, CA Certificate, Whether all utilization is as per the disclosures Chief Financial Officer and No Management Certificate in the Offer Document? There was a revision in total cost from Rs. 1050 crore to Rs. 966.30 crore draft MA report, Board and Bank Statements as the company did not receive Rs. 83.70 Crore following the cancellation noted the utilization is as of ~77 lakh warrants on 28th January 2026 due to the non-exercise of the per the Offer Document. conversion option. Based on the certificates Whether shareholder approval has been issued by Independent obtained in case of material deviations# from CA Certificate and Board approval has been obtained for revision in total cost from Rs. Yes Chartered Accountant, expenditures disclosed in the Offer Management Certificate 1050 crore to Rs. 966.30 crore. Chief Financial Officer and Document? draft MA report, Board CARE Ratings Limited 9th floor, C-001/A2, Berger Towers, Sector 16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Road, Off Eastern Express Highway, Sion (East), Gautam Budh Nagar, Uttar Pradesh -201301 Mumbai - 400 022 Phone: +91-120-4452000 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in Source of information / certifications considered Comments of the Comments of the Particulars Reply by Monitoring Agency for Monitoring Agency Board of Directors preparation of report* noted the utilization is as per the Offer Document. Based on the certificates As per revision in total cost from Rs. 1050 crore to Rs. 966.30 crore, issued by independent debt repayment has reduced from Rs. 110 crore to Rs. 109.64 crore, Whether the means of finance for the CA Certificate and Chartered Accountant, Yes Investment in Subsidiaries has reduced from Rs. 690 crore to Rs. 621 disclosed objects o [Showing first 8,000 characters — download PDF for full document]