Ravelcare Limited submitted a regulatory disclosure to BSE Limited regarding the utilization of funds raised through its Initial Public Offer (IPO). The disclosure was made pursuant to Regulation 32(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company confirmed that there has been no deviation or variation in the utilization of IPO proceeds for the year ended March 31, 2026, compared to the objects stated in the Prospectus. The statement of deviation/variation was reviewed by the Audit Committee and taken on record by the Board at their respective meetings held on May 30, 2026.

IPO Fund Details

  • Date of Raising Funds: December 4, 2005
  • Amount Raised: ₹21.02 crore (₹210.20 lakh)
  • Report Period: Quarter ended March 31, 2026
  • Monitoring Agency: Not applicable

Fund Utilization Breakdown (as per Annexure A)

| Object | Amount in Offer Document (₹ Lakhs) | Actual Utilized (₹ Lakhs) | Unutilized Amount (₹ Lakhs) | Remarks |

| Marketing and advertisement expenses toward enhancing brand awareness | 1150.00 | 346.80 | 803.20 | Unutilized amount lying as Term Deposit with Swift in and Swift it Account of Kotak Bank |

| Setting up a new manufacturing facility at Amravati | 2806.80 | 0.00 | 780.60 | [Note: Table shows 2806.80 in offer document but only 780.60 unutilized - data appears inconsistent] |

| Corporate General Purpose | 213.21 | 195.01 | 18.20 | |

| Issue expenses | 266.39 | 219.10 | 47.29 | |

| Total | 2410.20 | 760.91 | 1649.29 | |

Auditor Certification

Ratan Chandak & Co LLP, Chartered Accountants (Firm Reg No: 108696W/W101028), certified the IPO fund utilization as of March 31, 2026. They verified that the details in Annexure A match with the audited books of accounts of the company. The certification was issued on May 30, 2026, at Navi Mumbai.

The auditor noted that the management of the company is responsible for the preparation and maintenance of books of accounts and records. The certificate was issued specifically for submission to National Stock Exchange (NSE) and should not be used for any other purpose without prior consent.