Monitoring agency report for the quarter ended March 31, 2025
IDEAFORGE · price
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IdeaForge Technology Limited has submitted the quarterly Monitoring Agency Report from ICRA Limited for Q4 FY2025, tracking use of proceeds from its June 2023 IPO. Of the total Rs. 225.16 Crore net IPO proceeds, Rs. 216.16 Crore (96%) has been deployed, leaving Rs. 9 Crore unutilized. Debt repayment (Rs. 50 Crore) and general corporate purposes (Rs. 0.16 Crore) are fully utilized. Working capital funding is 95% used (Rs. 128.26 Crore of Rs. 135 Crore) and product development is 94% used (Rs. 37.74 Crore of Rs. 40 Crore). The leftover Rs. 9 Crore sits in an Axis Bank fixed deposit maturing April 22, 2025, earning 6.75% interest. ICRA confirmed no deviation from the stated objects and all projects remain on schedule.
This is a routine compliance update with no negative signals — IPO funds are being used as promised, idle cash is parked safely in a bank FD, and there are no cost overruns or delays. For shareholders, it reflects disciplined capital deployment but offers little new information to move the stock.