IPO Fundraising Details
- Mode of Fund Raising: Initial Public Offer (IPO)
- Type of Instrument: Equity
- Date of Raising Funds: 21.01.2026
- Total Amount Raised: ₹32.89 crore (₹3289.34 lakhs)
- Funds were credited to the Company's designated Public Offer Account maintained with Axis Bank (Account no. 925020053501167)
Utilization of IPO Proceeds as of March 31, 2026
Capital Expenditure for Solar Power Project
- Allocated Amount: ₹4.26 crore (₹425.61 lakhs)
- Amount Utilized: ₹0.86 crore (₹85.61 lakhs)
- Amount Unutilized: ₹3.40 crore (₹340.00 lakhs)
- The unutilized amount is parked in SBI Savings Fund and will be used as per solar project requirements
Working Capital
- Allocated Amount: ₹20.45 crore (₹2045.00 lakhs)
- Amount Utilized: ₹20.73 crore (₹2073.15 lakhs)
- Amount Unutilized: ₹0.00
- Includes savings from IPO expenses redirected to working capital
General Corporate Purposes
- Allocated Amount: ₹4.65 crore (₹464.58 lakhs)
- Amount Utilized: ₹4.65 crore (₹464.58 lakhs)
- Amount Unutilized: ₹0.00
Public Issue Expenses
- Allocated Amount: ₹3.54 crore (₹354.15 lakhs)
- Amount Utilized: ₹3.26 crore (₹326.00 lakhs)
- Net savings of ₹0.28 crore (₹28.15 lakhs) were utilized in Working Capital
Auditor Certification
Pushpendra Gupta & Associates, Chartered Accountants (FRN-0114125W) certified:
- The company has utilized IPO proceeds in accordance with objects stated in the Prospectus dated January 21, 2026
- No part of IPO proceeds has been temporarily invested, advanced, or deployed for purposes other than stated objects
- The certification was issued specifically for submission to Bombay Stock Exchange