Monitoring Agency Report for the quarter ended March 31, 2026
BLACKBUCK · price
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BlackBuck Limited submitted its Q4 FY2026 Monitoring Agency Report issued by ICRA Limited, covering utilisation of its November 2024 IPO proceeds of Rs. 550 crore. Of the total IPO corpus, Rs. 444.36 crore (80.8%) has been deployed as at March 31, 2026, with Rs. 105.64 crore remaining unutilised. The full Rs. 140 crore allocated to BlackBuck Finserve (NBFC subsidiary) has been deployed. Sales and marketing has received Rs. 137.30 crore out of Rs. 200 crore, product development Rs. 45.38 crore out of Rs. 75 crore, and general corporate purposes Rs. 121.69 crore out of Rs. 135 crore. Issue expenses came in lower at Rs. 26.68 crore vs the estimated Rs. 30.28 crore. ICRA confirmed no deviation from the disclosed objects of the issue. Unutilised funds are parked in fixed deposits with Axis Bank and Kotak Bank, and a monitoring account.
The IPO proceeds are being deployed largely on track with no deviations reported, which is a positive signal for investors. The NBFC subsidiary capital infusion is complete, supporting BlackBuck's financial services expansion. The remaining Rs. 105.64 crore still to be deployed over the planned timelines.