Intimation of Monitoring Agency Report for the Quarter ended 31st March, 2026 for the Company.
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Apollo Techno Industries Limited submitted its Q4 FY26 Monitoring Agency Report for the Rs. 47.96 crore IPO raised on the SME Platform. CARE Ratings Limited, as monitoring agency, confirmed no material deviations from the disclosed objects. The company fully utilized Rs. 38.50 crore for working capital and Rs. 5.81 crore for issue expenses. Notably, the company cancelled a land purchase MoU with promoter director Mrs. Manjulaben Patel (for Rs. 3.5 crore land), citing unsuitable location, and recovered Rs. 3.05 crore (including 6% interest) on May 02, 2026. As of March 31, 2026, Rs. 3 crore remains as advance pending utilization. The stock is currently trading at Rs. 97.75, approximately 25% below the IPO issue price of Rs. 130.
The filing shows compliant utilization of IPO funds with no material deviations. However, the 25% decline in stock price from the issue price indicates investor losses, and the cancelled land acquisition may raise questions about project execution planning.