Key Quantitative Figures

  • IPO Date: 18th September, 2026
  • Total Amount Raised: ₹10,500.48 lakhs
  • Funds Utilized as of Sept 30, 2026: ₹1,149.28 lakhs
  • Unutilized Balance: ₹9,351.20 lakhs
  • Reporting Period: Quarter & Half-Year ended September 30, 2026

Fund Utilization Breakdown

| Object of Issue | Allocated Amount (₹ lakhs) | Utilized Amount (₹ lakhs) | Balance (₹ lakhs) |

| Capital Expenditure for New Manufacturing Unit | 7,466.36 | 102.89 | 7,363.47 |

| Pre-payment of Loan | 1,400.00 | 0.00 | 1,400.00 |

| General Corporate Purposes | 633.13 | 162.79 | 470.34 |

| Issue Expenses | 1,000.99 | 883.60 | 117.39 |

| Total | 10,500.48 | 1,149.28 | 9,351.20 |

Special Note on Issue Expenses Adjustment

  • Gross issue expenses paid from Public Issue Account: ₹924.07 lakhs
  • GST component (ineligible for ITC): ₹152.73 lakhs
  • Pre-paid eligible expenses from internal accruals: ₹112.26 lakhs
  • Net excess withdrawal: ₹40.47 lakhs reclassified to General Corporate Purposes
  • This adjustment reduced GCP allocation from ₹633.13 lakhs to effective ₹592.66 lakhs

Unutilized Funds Deployment

  • ₹9,330.20 lakhs invested in fixed deposits with HDFC Bank and Kotak Mahindra Bank
  • ₹20.94 lakhs remains in Public Issue Account for issue expenses
  • Fixed deposit returns range from 6.65% to 20.35% with maturities in September 2027

Monitoring and Certification

  • Monitoring Agency: ACER Credit Rating Private Limited
  • Statutory Auditors: Shetty Naik & Associates (FRN: 124851W)
  • Audit Committee Review Date: 14th November, 2026
  • Board Approval Date: 14th November, 2026

Regulatory Compliance Status

  • No deviation or variation in utilization from prospectus objects
  • No shareholder approval required for changes (no changes occurred)
  • All government/statutory approvals obtained where applicable
  • No material events affecting viability of projects

Loan Details for Prepayment Object

  • Axis Bank Term Loan: Outstanding ₹441.22 lakhs, interest rate Repo Rate + 2.55% (currently 7.80% p.a.)
  • HDFC Bank Term Loan: Outstanding ₹1,297.78 lakhs, interest rate 8.50% p.a.
  • Prepayment charges applicable as per sanction terms

General Corporate Purposes Utilization

  • Payment of Statutory Dues: ₹40.47 lakhs
  • Professional charges to Smart Whale Advisors: ₹61.95 lakhs
  • Purchase of Haitian Plastic Machinery: ₹4.39 lakhs
  • Other Working Capital Requirements: ₹55.98 lakhs

Implementation Timeline

  • Capital Expenditure: Target completion FY 2028 (ongoing)
  • Loan Prepayment: Target completion FY 2027 (not started)
  • General Corporate Purposes: Target completion FY 2027 (ongoing)
  • No delays reported in implementation

Financial Impact

No material financial impact disclosed beyond the fund utilization amounts specified. The company confirms compliance with all SEBI regulations regarding IPO fund utilization.