Monitoring agency report for the quarter ended March 31, 2026 in relation to the Initial Public offer to the Company.
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Arkade Developers has filed its final monitoring agency report for the IPO proceeds utilization for the quarter ended March 31, 2026. The IPO raised Rs 4,100 million (gross) with net proceeds of Rs 3,800.75 million. All proceeds have been fully utilized: Rs 2,500 million for development expenses of Ongoing Projects (Arkade Nest, Prachi CHSL, C-Unit), Rs 1,300.75 million for land acquisition and general corporate purposes, and Rs 299.25 million for issue expenses. During Q4, Rs 187.23 million was deployed, completing the full utilization. The net proceeds were revised downward by Rs 9.90 million due to actual issue expenses being higher than estimated, adjusted from general corporate purposes. The monitoring agency confirms no deviations from the disclosed objects and no material deviations from earlier reports.
This is a positive confirmation for shareholders as it shows the IPO proceeds have been fully deployed as promised in the offer document with no deviations. The final monitoring report indicates proper end-use of Rs 4,100 million raised from public investors. Nil balance in public issue and monitoring accounts confirms complete utilization.