Monitoring Agency Report for the quarter ended 31st March, 2026
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CRISIL Ratings Limited has submitted its quarterly monitoring report on IPO fund utilization for Deepak Builders & Engineers India Limited. The company's IPO (October 2024) raised Rs 2,172.10 million, with net proceeds of Rs 1,962.21 million after issue expenses of Rs 209.89 million. As of March 31, 2026, the repayment of borrowings (Rs 300 million) and working capital funding (Rs 1,119.56 million) have been fully utilized. General corporate purposes (Rs 542.65 million allocated) has seen Rs 506.55 million deployed with Rs 36.10 million remaining. Issue expenses stand at Rs 209.21 million utilized. Only Rs 0.68 million remains unutilized in monitoring and public issue accounts. No deviations from stated objects or implementation delays were reported.
The filing shows healthy deployment of IPO proceeds as per the prospectus with no material deviations. The construction company's IPO funds are being channeled toward debt repayment and working capital as intended, with minimal idle funds remaining. This is a routine compliance filing that reassures investors about proper fund utilization.