Chemkart India Limited submitted a regulatory filing to BSE Limited pursuant to SEBI Listing Obligations and Disclosure Requirements Regulation 32(1). The disclosure covers the half-year period ended September 30, 2026.
The company confirmed there has been no deviation or variation in the utilization of proceeds from its Initial Public Offering (IPO) compared to the objects stated in the prospectus. This statement was reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on October 30, 2026.
IPO Details
- Date of raising funds: July 14, 2025
- Amount raised: ₹80.08 crore
- Issue related expenses: ₹9.53 crore
- Net proceeds to be utilized: ₹54.95 crore
- Monitoring agency: Brickwork Ratings India Private Limited
Fund Utilization Status as of September 30, 2026
Total funds allocated for utilization: ₹64.47 crore
Total funds utilized: ₹39.48 crore (61.2% of allocated amount)
Total unutilized amount: ₹24.99 crore (38.8% of allocated amount)
Breakdown of fund utilization:
1. Financing capital expenditure through investment in subsidiary (Easy Raw Materials Private Limited):
- Original allocation: ₹34.68 crore
- Amount utilized: ₹9.69 crore (27.9% of allocation)
- Unutilized amount: ₹24.99 crore
2. Repayment/prepayment of borrowings:
- Original allocation: ₹20.00 crore
- Amount utilized: ₹20.00 crore (100% of allocation)
- Unutilized amount: ₹0.00
3. General corporate purpose and IPO issue expenses:
- Original allocation: ₹9.79 crore
- Amount utilized: ₹9.79 crore (100% of allocation)
- Unutilized amount: ₹0.00
Auditor Certification
Prem Chand Jain & Co., Chartered Accountants (Firm Registration Number: 000066C) issued a certificate verifying the utilization of IPO proceeds. Partner CA. Sulbha Jain (Membership No. 404786) certified that:
- The company has utilized ₹39.48 crore (₹3,948.05 lakhs) of IPO proceeds as per the objects disclosed in the offer document
- The examination was conducted in accordance with the Guidance Note on Reports or Certificate for Special Purposes issued by ICAI
- The certificate is issued solely for submission to SEBI and not for any other purpose
The certificate confirms the same utilization figures as reported by the company: ₹968.39 lakhs utilized for subsidiary investment, ₹2,000.00 lakhs for debt repayment, and ₹979.66 lakhs for general corporate purposes and IPO expenses.