Key Quantitative Figures
- IPO Date: December 1, 2025
- Total Amount Raised: ₹31.6742 crore
- Total Amount Utilized as of March 31, 2026: ₹7.0425 crore
- Total Unutilized Amount as of March 31, 2026: ₹24.6317 crore
Breakdown of Fund Utilization
| Purpose | Amount Allocated (₹ Crore) | Amount Utilized (₹ Crore) | Unutilized Amount (₹ Crore) |
| Setting up new manufacturing facility at Mahuva, Bhavnagar, Gujarat | 23.1934 | 0 | 23.1934 |
| General corporate purpose | 5.9389 | 14.6399 | 1.2090 |
| Public issue related expenses | 2.5419 | 2.4026 | 0.1393 |
Unutilized Funds Details
Out of the total unutilized amount of ₹24.6317 crore:
- ₹23.19 crore is lying in Term Deposit with State Bank of India
- Remaining amount is credited in Company's CC Account with HDFC BANK (Account No: 50200069328986)
Governance & Approval
- Disclosure confirmed no deviation or variation in utilization of IPO proceeds from objects stated in Prospectus
- Statement reviewed by Audit Committee and taken on record by Board of Directors
- Board meeting date: May 30, 2026
- Audit committee meeting date: May 30, 2026
Auditor Certification
- Auditors: Ratan Chandak & Co LLP (Firm Reg No: 108696W/W101028)
- Certification date: April 30, 2026
- Certified that the fund utilization statement matches audited books of accounts as of March 31, 2026
- Certification issued for submission to Bombay Stock Exchange (BSE) only