Pursuant to Regulation 32(6) of the SEBI listing regulation, 2015 read with regulation 41(4) of the SEBI (Issue of Capital and disclosure Requirements), Regulations 2018, we have submitting ....
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Awaiting price reaction for this filing.
Chemkart India Ltd submitted its first Monitoring Agency Report prepared by Brickwork Ratings for the quarter ended September 30, 2025, covering its IPO funds of Rs 80.08 crore raised in July 2025 via fresh issue and offer for sale. The report flags a deviation of 50-75% from stated objects, specifically excess utilization towards General Corporate Purpose (GCP) — Rs 0.43 crore spent against Rs 0.27 crore allocated (60.26% over). There was also an additional Rs 0.29 crore outflow beyond the OFS prospectus amount. On the positive side, debt repayment of Rs 20 crore is fully done, and issue expenses of Rs 9.08 crore are nearly deployed. However, the main manufacturing facility capex of Rs 34.68 crore has barely begun, with only Rs 0.49 crore utilized. Unutilized funds have been parked in bank accounts and arbitrage/liquid mutual funds.
This is a routine SEBI compliance filing, but the deviation in GCP spending and the slow deployment of the large manufacturing capex may draw investor scrutiny on how IPO funds are being managed. No immediate share-price catalyst, but signals weaker-than-expected execution on the main growth project.