Issue Details

  • Type of Issue: Public Issue (SME IPO)
  • Issue Size: ₹74.92 crore
  • Issue Period: August 28, 2026 to September 01, 2026
  • Promoters: Rohit Rajesh Mathur, Abha Mathur, Rohan Rohit Mathur
  • Industry/Sector: Consumer Discretionary / Entertainment

Monitoring Findings

Utilization Status as of September 30, 2026

Total Proceeds Utilization: ₹31.42 crore out of ₹74.92 crore

Total Unutilized Amount: ₹43.50 crore

Breakdown of Utilization:

  • Capex for Gaming Equipment (Bhiwandi Warehouse): ₹4.71 crore utilized (₹39.88 crore allocated)
  • Unutilized: ₹35.17 crore
  • Payments made through monitoring account
  • Ongoing project with no delays
  • Duckpin Bowling Bistro Setup: ₹0.00 crore utilized (₹8.09 crore allocated)
  • Unutilized: ₹8.09 crore
  • Ongoing project with no delays
  • Debt Repayment: ₹11.50 crore fully utilized (₹11.50 crore allocated)
  • Completed repayment of outstanding borrowings from banks and financial institutions
  • Project completed
  • General Corporate Purposes: ₹6.28 crore utilized (₹6.58 crore allocated)
  • Unutilized: ₹0.30 crore
  • Utilization includes: payment to foreign suppliers for equipment purchase, salary payments, custom duty payments, GST and TDS payments
  • Ongoing utilization
  • Issue Related Expenses: ₹8.93 crore utilized (₹8.87 crore estimated)
  • Deviation: Actual expenses exceeded estimate by ₹0.06 crore
  • This caused a shortfall of ₹0.06 crore in the General Corporate Purpose allocation

Deployment of Unutilized Proceeds

  • Amount: ₹43.50 crore
  • Instrument: ICICI Bank monitoring account (Account 559205000148)
  • No other investments made with unutilized proceeds

Certifications and Sources

  • Chartered Accountant Certificate: RH Nisar & Co. (Statutory auditor) dated November 04, 2026
  • Management Certificates: Provided by company management
  • Bank Statements: Reviewed for verification

Timeline and Status

All projects are proceeding as per the original schedule outlined in the Offer Document:

  • Capex for gaming equipment: Utilization of ₹19.94 crore each in FY27 and FY28 (₹4.71 crore utilized in Q1 FY27)
  • Duckpin Bowling Bistro: Utilization of ₹5 crore in FY27 and ₹3.09 crore in FY28 (₹0.00 utilized in Q1 FY27)
  • Debt repayment: Completed in FY27 as planned
  • General corporate purposes: Ongoing utilization

Financial Impact

  • Quantified Impact: Full utilization of debt repayment amount (₹11.50 crore) reduces borrowing costs
  • Partial Utilization: Capex and general corporate purposes ongoing with significant funds remaining
  • Expense Overrun: Issue expenses exceeded estimate by ₹0.06 crore, absorbed from general corporate purposes allocation