Submission of Certificate from Statutory Auditor pursuant to Regulation 262(6) of the SEBI (ICDR) Regulations, 2018.
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Bhavik Enterprises Ltd has submitted a statutory auditor certificate confirming the utilisation of IPO proceeds as of March 31, 2026. The company raised ₹5,460.18 Lakhs through its IPO and has fully deployed these funds. Of the total, ₹5,460.18 Lakhs was utilized for working capital requirements. The note clarifies that funds initially allocated for general corporate purposes (₹710.18 Lakhs) were also redirected toward working capital needs. The certificate from M Parashar & Co confirms the utilisation is in accordance with the stated objects of the IPO.
This routine compliance filing confirms the company has properly deployed IPO proceeds as disclosed. It demonstrates adherence to SEBI regulations and provides shareholders assurance that funds were used as promised. No immediate stock price impact expected from this routine filing.