Key Finding

There is no deviation/variation in the utilization of proceeds as per the objects stated in the Prospectus dated June 23, 2025 for the company's Initial Public Offering (IPO).

Fund Raising Details

  • Mode of Fund Raising: Public Issue
  • Date of Raising Funds: 3rd July, 2025
  • Amount Raised: ₹30.36 crores
  • Monitoring Agency: Applicable
  • Monitoring Agency Name: Infomerics Valuation & Rating Private Limited

Fund Utilization Breakdown (as of March 31, 2026)

| Object | Original Allocation (₹ Cr) | Actual Utilized (₹ Cr) | Unutilized Amount (₹ Cr) |

| To Meet Incremental Working Capital Requirements | 8.57 | 8.57 | NIL |

| Prepayment/repayment of outstanding borrowings | 3.00 | 2.985 | 0.015 |

| Funding capital expenditure for expansion of Dhinoj Facility | 8.29 | 8.22 | 0.07 |

| General Corporate Purpose | 7.51 | 7.51 | NIL |

| Issue Related Expenses | 2.99 | 2.97 | 0.02 |

| Total | 30.36 | 30.255 | 0.105 |

Governance Process

  • The Statement of Deviation or Variation was reviewed by the Audit Committee
  • Taken on record by the Board of Directors of the Company
  • Board and Audit Committee meetings held on 22nd May, 2026

Auditor Certification

  • Auditor Firm: Piyush Kothari & Associates, Chartered Accountants
  • Firm Registration No.: 140711W
  • Certification Date: 22nd May, 2026
  • UDIN: 26158407PHHSCU5431

The auditors certified that there is no deviation/variation in the utilization of proceeds as per the objects stated in the prospectus dated June 23, 2025 for the IPO.

Company Identification

  • Permanent Account No.: AAFCV3622B