Fund Raising Details

  • Mode of Fund Raising: Public Issue - Initial Public Offer
  • Fund Raising Period: June 4, 2026 to June 8, 2026
  • Date of Allotment: June 9, 2026
  • Amount Raised: ₹2,904.34 lakhs
  • Monitoring Agency: Merchant banker (Book Running Lead Manager)
  • Monitoring Agency Name: Sobhagya Capital Options Pvt. Ltd.

Deviation Status

  • Deviation/Variation Exists: Yes
  • Due to Change in Terms/Objects: No
  • Shareholder Approval Date: Agenda for deviations to be approved in next shareholders meeting

Deviation Details

Explanation for Deviation: There is deviation in issue-related expense, which has gone above the allocated fund by 3.72% of Issue Expense.

Audit Committee Comments: The Audit Committee confirms that IPO proceeds have been utilized for the stated objects, save for a minor deviation of 3.72% in issue expenses.

Auditors' Comments: Proceeds from IPO have been utilized for the objects for which it was raised, except for deviation in Issue Expense of ₹14.16 lakhs. Total amount allocated for Issue expense is ₹380.63 lakhs and total amount utilized for Issue expense is ₹394.79 lakhs, deviating by approximately 3.72% of total allocated Issue Expense.

Fund Utilization Breakdown

| Object | Original Allocation (₹ Lakhs) | Funds Utilized (₹ Lakhs) | Deviation Status |

| Capital Expenditure | 1,046.93 | 600.36 | No Deviation |

| Marketing and Promotional Activities | 490.19 | 374.00 | No Deviation |

| Working Capital Requirements | 642.00 | 518.86 | No Deviation |

| General Corporate Purposes | 344.59 | 18.84 | No Deviation |

| Issue Related Expense | 380.63 | 394.79 | Deviation of 3.72% |

| Net Issue Proceeds | 2,904.34 | 1,906.85 | Partially Utilized |

Remark on Issue Expense Deviation: Mainly due to Selling and Marketing Expense.

Funds Available as of September 30, 2026

| Sr No | Particulars | Amount (₹ Lakhs) |

| A | Fixed Deposits: | |

| | Fixed Deposit With ICICI Bank | 181.50 |

| | Fixed Deposit With HDFC Bank | 535.42 |

| B | Escrow Account Balance: | |

| | Bank Balance with Kotak Mahindra Bank (Escrow A/c) | 21.57 |

| C | Non-Escrow Account Balances: | |

| | Bank Balance with ICICI Bank (Current A/c) | 9.37 |

| | Bank Balance with HDFC Bank (Current A/c) | 101.02 |

| | Total Fund Available | 848.87 |

Important Remarks

1. Promoter Allocation Error: At issue proceeds receipt, excess amount of ₹54.13 lakhs was transferred to Promoter Selling Shareholder against Offer for Sale (OFS). This was identified by Statutory Auditor during limited review and half-yearly results. Promoter refunded ₹54.13 lakhs to Company's current account on November 13, 2026.

2. Expense Reimbursement: Total issue expenses paid from Escrow Account amounted to ₹489.388 lakhs, of which ₹94.21 lakhs was attributable to OFS portion. Since expenses were initially met from Company's share of proceeds, Promoter reimbursed ₹94.60 lakhs to Company's current account on November 14, 2026, restoring Company's net proceeds to correct figure. Issue expenses attributable to Company therefore amount to ₹394.79 lakhs (₹489.388 lakhs − ₹94.60 lakhs).

3. Timing Note: These proceeds were transferred to company's current accounts after September 30, 2026 (review date), hence the bank balance figures do not include this amount.