Sotefin Bharat Limited submitted a regulatory compliance statement to BSE Limited regarding the utilization of funds raised through its Initial Public Offering (IPO). The filing is made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019.

The company confirms that during the quarter ended September 30, 2026, there was no deviation or variation in the use of proceeds from the objects stated in the Prospectus. This statement was reviewed by the Audit Committee of the Company and taken on record by the Board of Directors at their respective meetings held on 12th November, 2026.

IPO Details

  • Mode of Fund Raising: Initial Public Offer – Equity Shares
  • Date of Raising Funds: 23rd July, 2026 (Date of Allotment)
  • Amount Raised: ₹89.76 crore (₹8976 lakhs)
  • Monitoring Agency: ACER Credit Rating Private Limited

Fund Utilization Status as of September 30, 2026

| Object Description | Proposed Amount (₹ Cr) | Opening Unutilized (₹ Cr) | Utilized During Quarter (₹ Cr) | Cumulative Utilized (₹ Cr) | Unutilized at Quarter End (₹ Cr) |

| Manufacturing facility in Kolkata (Land, Buildings, Plant & Machinery) | 20.13 | 20.13 | 0 | 0 | 20.13 |

| New office premises (Building, Interiors, Furniture & Fixtures) | 8.17 | 8.17 | 0 | 0 | 8.17 |

| Working Capital Expenses | 40.00 | 40.00 | 30.00 | 30.00 | 10.00 |

| General Corporate Purpose | 8.88 | 8.88 | 0 | 0 | 8.88 |

| Public Issue related Expense | 12.58 | 12.58 | 8.64 | 8.64 | 3.94 |

| TOTAL | 89.76 | 89.76 | 38.64 | 38.64 | 51.12 |

Key Observations

  • Total cumulative utilization: ₹38.64 crore (43.05% of total proceeds)
  • Working capital represents the largest utilized category (₹30 crore utilized, ₹10 crore remaining)
  • Capital expenditure objects (manufacturing facility and office premises) remain completely unutilized (₹28.30 crore)
  • Public issue expenses have utilized ₹8.64 crore of the allocated ₹12.58 crore
  • The unutilized fund balance of ₹51.12 crore is parked in fixed deposits with banks

The company maintains compliance with SEBI regulations regarding IPO fund utilization and has provided the required quarterly disclosure without any reported deviations.