INDO SMC Limited filed a regulatory statement confirming no deviation in utilization of ₹91.95 crore IPO proceeds raised in January 2026.
As of March 31, 2026, the company utilized ₹42.41 crore (46.1%) with ₹49.54 crore unutilized and invested in fixed deposits and bank account.
The auditor, A. N. Ruparel & Co., verified the fund usage against prospectus objectives and found no deviations or variations.
The monitoring agency for the IPO funds is Crisil Rating Limited, and the Audit Committee had no comments on the utilization.