Monitoring Agency Report for the quarter ended March 31, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited, the Monitoring Agency, has confirmed no material deviation in the utilization of IPO proceeds for the quarter ended March 31, 2026. The company raised INR 1,000 crore through its IPO (opened May 8, 2024 and closed May 10, 2024). As of March 31, 2026, the entire proceeds have been fully deployed towards the stated objects: INR 750 crore for onward lending capital requirements and INR 205.47 crore for general corporate purposes (repayment of indebtedness). Issue-related expenses came in lower than estimated by INR 3.14 crore, which increased the GCP allocation. All objects are on schedule with no delays reported.
Positive signal for shareholders — the IPO proceeds are being utilized as promised with no deviations. The full deployment confirms the company is on track with its lending expansion and debt repayment plans.