Key Quantitative Figures

  • IPO Fund Raising Details:
  • Mode of Fund Raising: Initial Public Offer (IPO)
  • Date of Raising Funds: 23 September 2025 to 26 September 2025
  • Amount Raised: ₹63 Crores
  • Monitoring Agency: Brickwork Ratings India Private Limited (appointed voluntarily)

Fund Utilization Details as of September 30, 2026

| Objects | Original Allocation (₹ Crores) | Funds Utilized (₹ Crores) |

| Working capital requirements | 36.50 | 37.12 |

| IT infrastructure and technological platform development | 6.30 | 2.00 |

| Repayment of outstanding borrowings | 5.00 | 5.00 |

| General Corporate Purposes | 8.34 | 8.33 |

| Issue Expenses | 6.86 | 6.84 |

| Total | 63.00 | 59.29 |

Key Findings

  • The company confirms there is no deviation or variation in the utilization of funds raised through the IPO.
  • Working capital utilization exceeded the original allocation by ₹0.62 crore (₹37.12 crore utilized vs ₹36.50 crore allocated). This excess expenditure was funded by interest earned on Fixed Deposits created from IPO proceeds.
  • All other objects show utilization either matching or being slightly below original allocations.

Governance and Approval

  • The statement was reviewed and approved by the Audit Committee in its meeting held on November 13, 2026.
  • The disclosure is signed by Puspamitra Das, Chairman and Managing Director (DIN: 01643973).