Beezaasan Explotech Limited submitted a regulatory compliance statement to BSE Limited regarding the utilization of proceeds from its Initial Public Offer (IPO). The filing is made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019.

The company confirms that during the half year ended March 31, 2026, there was no deviation or variation in the utilization of proceeds from the IPO as per the objects stated in the Prospectus dated 27th February, 2025. The statement was reviewed by the Audit Committee of the Company on May 29, 2026.

IPO Details:

  • Mode of Fund Raising: Public Issue (Initial Public Offer)
  • Date of Raising Funds: 27th February, 2025
  • Amount Raised:
  • Fresh Issue: ₹5993.40 Lacs (Gross Proceeds)
  • Net Proceeds: ₹5233.66 Lacs (after deduction of Share Issue Expenses of ₹759.74 Lacs)
  • Monitoring Agency: Not Applicable

Fund Utilization Status (as of 31st March, 2026):

Capital Expenditure - Civil Construction for Expansion:

  • Original Allocation: ₹387.47 Lacs
  • Amount Utilized: ₹255.24 Lacs
  • Remarks: Out of ₹387.47 lakh planned for utilization, ₹255.24 lakh has been utilized up to 31st March, 2026. The balance will be used in upcoming periods, subject to statutory approvals and licences. The object remains unchanged.

Capital Expenditure - Plant and Machineries for Expansion:

  • Original Allocation: ₹2,304.30 Lacs
  • Amount Utilized: ₹586.48 Lacs
  • Remarks: Out of ₹2,304.30 lakh planned to utilize, ₹586.48 lakhs have been utilized up to 31st March, 2026. The Detonating Fuse Plant has been completed and Operations commenced late March-2026. Remaining funds will be deployed as project work progresses and approvals are obtained. The object remains unchanged.

Capital Expenditure - Civil Construction for Storage Facility:

  • Original Allocation: ₹202.56 Lacs
  • Amount Utilized: ₹202.56 Lacs
  • Remarks: The entire amount as per the original allocation has been utilized as per the objects.

General Corporate Purposes:

  • Original Allocation: ₹394.93 Lacs
  • Revised Allocation: ₹393.41 Lacs (due to increased share issue expenses)
  • Amount Utilized: ₹393.41 Lacs
  • Remarks: Out of ₹393.41 Lacs planned for General Corporate Purposes, entire amount has been spent.

Repayment/Prepayment of Borrowings:

  • Original Allocation: ₹1,800.00 Lacs
  • Amount Utilized: ₹1,800.00 Lacs
  • Remarks: The CC Limit has been reduced as planned.

Total Net Proceeds:

  • Originally Allocated: ₹5,233.66 Lacs
  • Revised Allocation: ₹5,232.14 Lacs
  • Total Utilized: ₹3,237.69 Lacs

Important Notes:

1. During the half year ended 31.03.2026, the Net Proceeds were revised from ₹5,233.66 lakh to ₹5,232.14 lakh due to an increase of ₹1.52 lakh in share issue expenses as compared to the originally planned amount. This increase was adjusted against the allocation for General Corporate Purposes (GCP), thereby revising the GCP allocation from ₹394.93 lakh to ₹393.41 lakh.

2. Certain components of the expansion project are currently under legal formalities, approvals, and permissions, as required under Explosive Rules, 2008. The Company will deploy the funds for these components as and when the required clearances are received.

3. The Company has temporarily parked ₹2000 Lacs in fixed deposit receipts (FDRs) which will be utilized in accordance with the planned object of the issue once clearances are obtained.