IPO Proceeds Utilization Certificate

Auditor's Opinion

Based on an examination of the company's books of accounts and relevant records, the auditor provides reasonable assurance that the utilization of IPO proceeds is in accordance with the books of accounts maintained and compliant with the terms and purposes mentioned in the Prospectus dated August 7, 2026. The examination was conducted in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the Institute of Chartered Accountants of India.

IPO Proceeds Breakdown

  • Gross Proceeds from IPO: ₹33,14,20,800
  • Issue Related Expenses:
  • Projected: ₹3,27,06,680
  • Actual till September 30, 2026: ₹3,26,15,255
  • Balance: ₹91,425
  • Net Proceeds: ₹29,88,05,545

Utilization of Net Proceeds (as of September 30, 2026)

| Sr. No. | Object of Utilization | Projected Utilization | Actual Utilization | Balance to be Utilized | Deviation |

| 1 | Investment related to enhancement, maintenance, and upgrading of existing products through hiring manpower | ₹17,02,00,000 | ₹46,40,121 | ₹16,55,59,879 | None |

| 2 | Investment in upgradation of IT Infrastructure | ₹6,75,21,000 | ₹5,99,75,000 | ₹75,46,000 | None |

| 3 | Repayment of Borrowings | ₹1,20,00,000 | ₹1,20,00,000 | - | None |

| 4 | General Corporate Purpose (Maximum 15% of Gross Receipts or ₹10 Crore, whichever is lower) | ₹4,89,93,120 | ₹4,69,75,000 | ₹20,18,120 | None |

| Total | | ₹29,88,05,545 | ₹12,35,90,121 | ₹17,52,15,424 | |

Compliance Statement

The auditor certifies that the above utilization is in compliance with the terms and purposes mentioned in the Prospectus and is in accordance with applicable regulations prescribed by SEBI, the Companies Act, and other regulatory authorities.