Monitoring Agency Report for quarter ended March 31, 2026
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Dev Accelerator Limited submitted its Q4FY26 Monitoring Agency Report for the IPO proceeds. The company raised Rs. 143.35 crore via IPO in September 2025. As of March 31, 2026, Rs. 108.50 crore has been utilized out of Rs. 143.35 crore. The remaining unutilized balance is Rs. 34.85 crore. In Q4FY26, Rs. 5.18 crore was deployed for capital expenditure (Rs. 4.5 crore to PHA Enterprises for Ahmedabad Centre 10, and the rest for Ahmedabad Centre 9 and Pune Centre 5). Borrowings repayment (Rs. 35 crore) and General Corporate Purposes (Rs. 19.26 crore) have been fully utilized. The unutilized funds are held across Public Issue Account, Monitoring Agency Account, and Fixed Deposits with ICICI, HDFC, and Axis Bank. The Monitoring Agency (Infomerics Valuation and Rating Limited) confirms no deviations from the objects disclosed in the offer document.
The IPO proceeds are being deployed as planned with no material deviations. The company continues to execute its expansion strategy with capex deployment for new flex space centers. The healthy unutilized balance (~Rs. 34.85 crore) indicates prudent fund management ahead of further center rollouts.