Issue Details

  • Issue Type: Public issue
  • Security Type: Fresh Equity Shares
  • Issue Period: September 24, 2026 - September 28, 2026
  • Issue Size: ₹53.52 Crore
  • Number of Shares: 5,299,200 equity shares
  • Issue Price: ₹101 per share
  • IPO Grading: Not Applicable
  • Funds Received: ₹53.52 Crore (full subscription amount received by October 06, 2026)

Promoters

Rahat Ali Saiyed, Sadaf Saiyed, Shehnaj, Mo. Jed, and Riyazuddin Qureshi

Industry/Sector

Agriculture and Food Industry

Utilization of Proceeds (As of September 30, 2026)

The company has not utilized any funds from the IPO proceeds as of the quarter ended September 30, 2026. The entire ₹53.52 crore remains unutilized and is held in the company's Public Issue Account (Account Number: 926020034711171).

Breakdown of Proposed vs. Actual Utilization:

| Object of Issue | Proposed Amount (₹ Crore) | Amount Utilized (₹ Crore) | Unutilized Amount (₹ Crore) |

| Funding Capital Expenditure - Plant and Machinery | 6.70 | 0.00 | 6.70 |

| Funding Capital Expenditure - Civil Construction | 5.01 | 0.00 | 5.01 |

| Funding Working Capital Requirements | 26.50 | 0.00 | 26.50 |

| General Corporate Purposes | 8.01 | 0.00 | 8.01 |

| Issue Expense | 7.30 | 0.00 | 7.30 |

| Any other purpose approved by board | Nil | Nil | Nil |

Monitoring Agency Findings

  • Deviation from objects: No deviation observed
  • Shareholder approval for deviations: Not applicable (no deviations)
  • Means of finance changed: Not applicable
  • Major deviation from earlier reports: Not applicable (first monitoring report)
  • Government/statutory approvals: Obtained as per company confirmation
  • Technical assistance/collaboration: Not applicable
  • Favorable events affecting viability: None reported
  • Unfavorable events affecting viability: None reported
  • Other material information: None reported

Implementation Timeline

All objects have an ongoing implementation timeline "Upto FY27-28" with no delays reported as of September 30, 2026.

Verification and Certification

The monitoring report has been verified using information from Bakliwal & Co, Chartered Accountants (FRN Number: 130381W) through their CA Certificate dated November 10, 2026, and company statements dated November 10, 2026.

Declaration

Brickwork Ratings declares no direct/indirect interest in or relationship with the issuer/promoters/directors/management and perceives no conflict of interest in monitoring and reporting the utilization of issue proceeds.