Issue Details

  • Issue Type: Public issue of Equity Shares
  • Issue Period: 27 March 2026 to 08 April 2026
  • Gross Proceeds: ₹31,75,20,000 (₹3175.20 lakhs)
  • Net Proceeds: ₹28,58,10,000 (₹2858.10 lakhs)
  • IPO Grading: Not Applicable (NA)

Utilization of Funds as of September 30, 2026

Objects and Actual Utilization (₹ in Lakhs)

| Object of Utilization | Projected Utilization | Actual Utilization | Balance to be Utilized | Deviation |

| Purchase of computers, laptops, accessories, software subscriptions and cloud hosting | 572.14 | 435.71 | 136.43 | Nil |

| Working Capital Requirements | 880.00 | 877.72 | 2.28 | Nil |

| Issue related Expenses | 317.10 | 314.33 | 2.77 | Nil |

| General corporate purposes | 474.46 | 455.24 | 19.22 | Nil |

| Branding, Advertisement and Marketing activities | 390.00 | 390.00 | Nil | Nil |

| Hiring of Manpower | 541.50 | 16.68 | 524.82 | Nil |

| Total | 3175.20 | 2489.68 | 685.52 | Nil |

Key Quantitative Figures

  • Total Gross Proceeds: ₹3175.20 lakhs
  • Total Utilized: ₹2489.68 lakhs (78.41% of proceeds)
  • Balance Remaining: ₹685.52 lakhs (21.59% of proceeds)
  • No deviations from stated IPO objects

Auditor's Examination Period

Covered the period from April 01, 2026 to September 30, 2026. The verification was based on unaudited books of accounts and other records for this period.

Regulatory Framework

  • Prepared in accordance with SEBI (ICDR) Regulations, 2018
  • Compliance with Companies Act, 2013 and SEBI/MCA guidelines
  • Following ICAI's Guidance Note on Audit Reports and Certificates for Special Purposes
  • Standards on Auditing and SQC 1 requirements applied

Auditor's Conclusion

Based on limited assurance procedures, nothing has come to the auditor's attention that causes them to believe that the details provided in the utilization statement are not in agreement with the unaudited books of accounts and other records for the examination period.

Restrictions and Limitations

  • Certificate issued solely for submission to Bombay Stock Exchange (SME Segment)
  • Not to be used for any other purpose without prior written consent
  • Limited assurance engagement (substantially lower than reasonable assurance)
  • No responsibility to update the report for events after the report date

Declaration

The auditor declares no direct/indirect interest or relationship with the issuer/promoters/directors/management and confirms no perceived conflict of interest while reporting the utilization of issue proceeds.