Monitoring Agency Report for the quarter ended March 31, 2026
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Digilogic Systems Ltd submitted its first Monitoring Agency Report for Q4 FY2026, covering the utilisation of Rs. 80.99 crore raised via IPO in January 2026. The monitoring agency, Brickwork Ratings India Pvt Ltd, confirmed no material deviations from the offer document. Of the four main objects, two have been completed: Rs. 8.00 crore was fully used to pre-repay outstanding borrowings, and Rs. 3.09 crore of Rs. 4.17 crore general corporate purposes was deployed. Rs. 0.35 crore was spent on capital expenditure for the proposed new facility out of Rs. 51.68 crore budgeted, leaving Rs. 51.33 crore unutilised and scheduled for deployment up to FY 2027-28. Issue expenses stood at Rs. 6.05 crore vs. Rs. 5.81 crore budgeted (a minor overspend of Rs. 0.24 crore). Unutilised proceeds of Rs. 40.49 crore are parked in bank fixed deposits earning 6.43% to 7.11%, with maturity dates between December 2026 and May 2027.
The IPO proceeds are being deployed largely on schedule with no adverse deviations flagged by the independent monitor, which is reassuring for new investors. The Rs. 51.33 crore still parked in FDs for the new facility indicates the capex phase has just begun and full returns may take over a year.