Please find enclosed herewith, the Monitoring Agency Report for the quarter ended December 31, 2025, issued by Care Ratings Limited, the Monitoring Agency appointed to monitor the utilisation ....
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Ace Alpha Tech Limited has submitted the quarterly Monitoring Agency Report from CARE Ratings for the quarter ended December 31, 2025, tracking the use of its Rs. 24.48 crore IPO fresh issue proceeds raised in June 2025. There are no deviations from the stated objects and no material changes to the financing plan. Of the Rs. 24.48 crore raised, Rs. 13.12 crore has been utilized so far (Rs. 3.39 crore during Q3 FY26), with Rs. 11.36 crore still unutilized. Key Q3 spending included Rs. 1.27 crore on server facility construction and Rs. 0.44 crore on workforce expansion under Capital Expenditure, plus Rs. 1.68 crore for acquiring shares in Silverleaf Capital Services and Silverleaf Securities Research under the Unidentified Acquisition head. The remaining Rs. 11.36 crore is parked in an HDFC Bank allotment account and four fixed deposits earning 4.25%–5.25% interest.
This is a routine compliance filing confirming that IPO funds are being used as promised with no deviations, which is mildly positive for transparency. However, only about 54% of IPO proceeds have been deployed after roughly six months, with a large chunk (Rs. 10.79 crore) of the Capital Expenditure plan still untouched, so investors may want to track deployment pace. The use of GCP funds for related-party-sounding acquisitions (Silverleaf group entities) is worth keeping an eye on.