The disclosure confirms that there is no deviation or variation in the use of proceeds raised through its Initial Public Offering (IPO) from the objects stated in the offer document for the period ended March 31, 2026.
Key Details of the Public Issue (IPO):
- Date of Raising Funds: August 22, 2025
- Amount Raised (Net of issue expenses): ₹21.92 Crores
- Monitoring Agency: Yes
- Name of Monitoring Agency: Infomerics Ratings Limited
Utilization of Funds:
The funds were raised for two primary objects, and the company reports no deviation in the use of proceeds for either:
- Working Capital Requirement: ₹7.70 crores was earmarked, and ₹6.73 crores has been utilized as per the plan.
- General Corporate Purpose: ₹3.79 crores was earmarked, and ₹3.68 crores has been utilized as per the plan.
Governance and Compliance:
- The Audit Committee reviewed the utilization and had no comments.
- The auditors also had no comments on the utilization.
- The board has reviewed the utilization and stated that the proceeds will be utilized within 12 months from the date of receipt of funds.
This is a standard regulatory compliance filing confirming adherence to the stated use of IPO proceeds.