Key Quantitative Figures

  • IPO Date: 03-12-2025
  • Total Amount Raised: ₹39.9 crore (₹3990.47 lakhs)
  • Reporting Period End: 30th September 2026
  • Total Funds Utilized as of 30-09-2026: ₹21.065 crore (₹2106.5 lakhs)
  • Remaining Unutilized Funds: ₹18.835 crore

Fund Utilization Breakdown by Object

1. Capital Expenditure towards upgrading of physical infrastructure:

  • Original Allocation: ₹185.83 lakhs
  • Funds Utilized: ₹98.08 lakhs

2. Investment in Human Resources through Manpower hiring:

  • Original Allocation: ₹1527.55 lakhs
  • Funds Utilized: ₹308.02 lakhs

3. Capital expenditure towards upgradation of IT infrastructure:

  • Original Allocation: ₹417.41 lakhs
  • Funds Utilized: ₹165.8 lakhs

4. Funding for business development and marketing activities:

  • Original Allocation: ₹250 lakhs
  • Funds Utilized: ₹61.89 lakhs

5. General Corporate purpose:

  • Original Allocation: ₹487.32 lakhs
  • Funds Utilized: ₹350.35 lakhs

6. Issue Expense:

  • Original Allocation: ₹402.08 lakhs
  • Funds Utilized: ₹402.08 lakhs (fully utilized)
  • Special Note: Issue expenses were apportioned between the Company and the selling shareholders in the ratio of 41:9

7. Offer for sale (OFS):

  • Original Allocation: ₹720.28 lakhs
  • Funds Utilized: ₹720.28 lakhs (fully utilized)

Regulatory Compliance Status

  • Deviation/Variation in use of funds: No deviation identified
  • Monitoring Agency: Not applicable
  • Shareholder Approval Date: Not applicable
  • Audit Committee Comments: No deviation/variation identified
  • Auditor Comments: No deviation/variation identified

Auditor Certification Details

Auditing Firm: SUV & Co., Chartered Accountants

Firm Registration No.: 029077N

Partner: Nishshesh Kumar (Membership No.: 571295)

UDIN: 26571295CLUYIB6347

Place of Certification: Delhi

Date of Certification: 14-11-2026

Auditor's Opinion

Based on examination of relevant books of account, bank statements, ledger accounts, invoices, payment records and supporting documents, the auditor concluded that:

  • The statement of utilization of IPO proceeds is true and correct in all material respects
  • Proceeds have been utilized in accordance with the objects of the issue as disclosed in the Offer Document
  • There has been no deviation or variation in the utilization of IPO proceeds from the objects stated in the Offer Document

Company Representatives

Company Address: #11, Prem Nagar, Islam Ganj, Ludhiana – 141008, Punjab