Key Quantitative Figures
- IPO Details: Issued 10,32,000 equity shares of ₹10 each at a premium of ₹134 per share, aggregating to ₹14,86,08,000 (₹14.86 crore).
- Listing Date: 30 January 2026 on BSE SME Platform.
- Unutilized Amount for Plant/Machinery: ₹247.81 lakh as of 31 March 2026.
- Temporary Utilization: ₹141.97 lakh used for interim working capital requirements; ₹105.84 lakh temporarily invested in fixed deposits with scheduled banks.
- Other Utilizations:
- Prepayment/Repayment of secured loan: ₹217.00 lakh (fully utilized)
- Working capital: ₹400.00 lakh allocated (includes ₹141.97 lakh temporary variance)
- General Corporate Purpose: ₹222.91 lakh (fully utilized)
- Offer Related Expenses: ₹267.17 lakh (fully utilized)
Parties Involved
- Listed Entity: Shayona Engineering Limited (Scrip Code: 544686, ISIN: INEOUCLO1011)
- Statutory Auditors: M/s. S G P S & Associates, Chartered Accountants (Firm Registration No. 132946W)
- Company Representative: Bhumi Mehta, Company Secretary & Compliance Officer
- Stock Exchange: BSE Limited
- Regulator: SEBI
Purpose/Rationale
The certificate was issued to comply with SEBI ICDR regulations requiring auditor certification of IPO proceeds utilization. The company is not required to appoint a monitoring agency for the IPO proceeds.
Financial Impact
Temporary deviation/variance occurred as ₹141.97 lakh earmarked for plant and machinery was used for working capital requirements as of 31 March 2026. Management represented this utilization was short-term and temporary, and the entire amount was subsequently made available to the company prior to approval of financial statements.
Auditor Opinion
Based on examination, the statement on utilization of funds is in agreement with the audited financial statements and books of account for the half year and financial year ended 31 March 2026, and fairly presents the manner of utilization of funds including funds used for purposes other than those stated in the offer document.