Key Quantitative Figures
- Total IPO Proceeds Raised: ₹39.04 crore (₹3904.0 lakhs)
- Fundraising Dates: Anchor investor - 30 July 2026; Others - 31 July 2026 to 04 August 2026
- Total Funds Utilized as of 30 September 2026: ₹4.64 crore
- Unutilized Funds: ₹34.40 crore (excluding issue expenses)
Detailed Fund Utilization by Object
1. Prepayment/Repayment of Borrowings
- Original Allocation: ₹2.36 crore
- Funds Utilized: ₹2.38 crore (100.8% of allocation)
- Status: Completed (overspent by ₹0.02 crore)
2. Technology & AI/ML Development, Servers & Cloud Infrastructure
- Original Allocation: ₹6.71 crore
- Funds Utilized: ₹0.14 crore (2.1% of allocation)
- Unutilized: ₹6.57 crore
- Completion Timeline: Up to December 2027
3. Capital Expenditure - Content Development
- Original Allocation: ₹5.35 crore
- Funds Utilized: ₹0.18 crore (3.4% of allocation)
- Unutilized: ₹5.17 crore
- Completion Timeline: Up to FY27
4. Capital Expenditure - Desktop/Laptops for Offline Centers
- Original Allocation: ₹1.95 crore
- Funds Utilized: ₹0.00 crore (0% of allocation)
- Unutilized: ₹1.95 crore
- Completion Timeline: Up to FY27
5. Marketing Initiatives
- Original Allocation: ₹5.22 crore
- Funds Utilized: ₹0.24 crore (4.6% of allocation)
- Unutilized: ₹4.98 crore
- Completion Timeline: Up to December 2027
6. Inorganic Growth & General Corporate Purposes
- Original Allocation: ₹5.93 crore
- Funds Utilized: ₹0.69 crore (11.6% of allocation)
- Unutilized: ₹5.24 crore
- Completion Timeline: Up to FY27
7. Issue Expenses
- Original Allocation: ₹4.11 crore
- Funds Utilized: ₹4.01 crore (97.6% of allocation)
- Unutilized: ₹0.10 crore
Monitoring Agency Details
- Monitoring Agency: Brickwork Ratings India Private Limited
- Agreement Date: 15 July 2026
- Report Period: Quarter ended 30 September 2026
- Report Number: BWR/2026-27/IPM/FKEL/01
Key Findings from Monitoring Report
- Deviation from Objects: No deviation observed
- Shareholder Approval: Not applicable (no deviation)
- Means of Finance: No change from offer document
- Government Approvals: All obtained as required
- Technical Arrangements: Not applicable
- Viability Events: No favorable or unfavorable events affecting viability
Deployment of Unutilized Proceeds
As of 30 September 2026, unutilized funds were deployed as follows:
- Public Issue Account: ₹0.03 crore
- Monitoring Agency Account: ₹0.87 crore
- DBS Account: ₹0.31 crore
- Fixed Deposits with ICICI Bank: ₹22.00 crore across four deposits with maturity dates between March 2027 and September 2027, earning 5.5% to 6.6% interest
Important Note on GST Treatment
An amount of ₹0.81 crore was utilized from the Monitoring Agency Account towards GST expenses across various issue objects. As per the Prospectus (pages 104-112), the base expenditure excluding GST is to be funded through Net Issue Proceeds, while applicable GST component is to be funded through internal accruals. The Company is required to reimburse ₹0.81 crore to the Monitoring Agency Account from internal accruals in the next quarter.
Certifications and Verification
All information verified by R. S. Gokani & Co. Chartered Accountants (FRN: 140229W) through CA certificate and company statement dated 29 October 2026.