Monitoring Agency Report on the utilization of proceeds raised through issuance of equity shares by way of Public Issue of the Company
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited, the monitoring agency for Advance Agrolife's IPO, has submitted its report for Q4FY26. The company raised Rs. 192.84 crore through its IPO in September-October 2025. Of this, Rs. 125.05 crore (65%) has been utilized so far — Rs. 67.50 crore towards working capital requirements, Rs. 34.08 crore towards general corporate purposes (including Rs. 25.92 crore for capital expenditure), and Rs. 23.47 crore towards issue-related expenses. The remaining Rs. 67.79 crore is parked in fixed deposits with Punjab National Bank (Rs. 67.50 crore, matured April 15, 2026) and monitoring account with HDFC Bank. The monitoring agency notes there is commingling of funds in the current account and relied on management declarations and CA certificate for verification. No deviations from the offer document objects were observed.
Positive for investors — the IPO proceeds are being utilized as per the disclosed objects with no material deviations. The unutilized funds are safely parked in bank deposits pending deployment for working capital needs.