Key Findings
- No deviation(s) or variation(s) in respect of the utilization of the proceeds of the Initial Public Offer (IPO) during the Half Year ended on September 30, 2026
IPO Details
- Equity issue of 29,32,800 equity shares of ₹10 each at a premium of ₹96 each as fresh issue
- Total Gross Proceeds of the Issue: ₹3,108.77 lakhs
- Listing date: September 28, 2026 on SME Platform of BSE Limited
Fund Utilization as of September 30, 2026
| Purpose | Allocated Amount (₹ lakhs) | Amount Utilized (₹ lakhs) | Amount Unutilized (₹ lakhs) |
| Working capital requirements | 2,825.73 | 282.45 | 2,543.28 |
| Pre-payment/repayment of borrowings | 220.00 | 0.00 | 220.00 |
| General Corporate Purposes | 236.37 | 0.00 | 236.37 |
| Issue Expenses | 306.67 | 0.00 | 306.67 |
| Total | 3,108.77 | 282.45 | 2,826.32 |
Current Status of Unutilized Funds
The unutilized amount of ₹2,826.32 lakhs is lying in the escrow account and current accounts of the Company.
Auditor Certification
- Goyal Goyal & Co., Chartered Accountants (FRN: 015069C) certified the utilization statement
- Certification date: November 03, 2026
- Auditor opinion: The Statement is in agreement with the unaudited financial results and books of account and records for the half-year ended September 30, 2026
- The financial results were limited reviewed with an unmodified limited review report dated November 03, 2026
Note on Issue Expenses
Issue expenses already paid but not yet recouped by the company and hence, will not match with the issue expenses which is booked on accrual basis to the extent invoices are received and which has been adjusted against securities premium.