Key Findings

  • No deviations or variations in utilization of IPO proceeds during the half year ended September 30, 2026
  • Monitoring agency: CARE Ratings Limited

IPO Details

  • Mode of Fund Raising: Initial Public Offer (IPO)
  • Type of Instrument: Equity
  • Date of Raising Funds: September 18, 2026
  • Total Amount Raised: ₹64.10 crore (₹6410.30 lakhs)

Fund Utilization Status (as of September 30, 2026)

1. Debt Repayment

  • Object: Repayment/pre-payment of borrowings availed by company and its subsidiary from banks
  • Allocated Amount: ₹24.10 crore (₹2410.43 lakhs)
  • Amount Utilized: ₹24.10 crore (₹2410.43 lakhs) - 100% utilization
  • Amount Unutilized: ₹0

2. Capital Expenditure

  • Object: Funding capital expenditure towards purchase of plant and machineries at existing manufacturing facility of wholly-owned subsidiary
  • Allocated Amount: ₹21.42 crore (₹2141.58 lakhs)
  • Amount Utilized: ₹1.92 crore (₹192.02 lakhs) - 9% utilization
  • Amount Unutilized: ₹19.50 crore (₹1949.56 lakhs)

3. General Corporate Purposes

  • Allocated Amount: ₹9.61 crore (₹961.23 lakhs)
  • Amount Utilized: ₹6.24 crore (₹624.30 lakhs) - 65% utilization
  • Amount Unutilized: ₹3.37 crore (₹336.93 lakhs)

4. Issue Expenses

  • Allocated Amount: ₹8.97 crore (₹897.06 lakhs)
  • Amount Utilized: ₹7.58 crore (₹758.24 lakhs) - 85% utilization
  • Amount Unutilized: ₹1.39 crore (₹138.82 lakhs)

Overall Utilization Summary

  • Total Gross Proceeds: ₹64.10 crore (₹6410.30 lakhs)
  • Total Amount Utilized: ₹39.85 crore (₹3984.99 lakhs) - 62% utilization
  • Total Amount Unutilized: ₹24.25 crore (₹2425.31 lakhs)
  • Unutilized funds are lying in escrow and current accounts of the Company

Auditor Certification

  • Auditor: APV & Associates (ICAI FRN: 0123143W)
  • Signing Partner: CA Vikesh Bansal (M.No: 096225)
  • Certification Date: November 12, 2026
  • Opinion: The statement is in agreement with the unaudited financial results and books of account for the half-year ended September 30, 2026
  • Basis: Examination conducted in accordance with Guidance Note on Certificates for Special Purposes (Revised 2016) issued by ICAI