Monitoring Agency Report for the Quarter and Financial year ended 31st March 2025
IKIO · price
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Awaiting price reaction for this filing.
IKIO Technologies submitted the Crisil Ratings monitoring report on use of its June 2023 IPO proceeds (net Rs 3,261.41 million). The loan repayment object (Rs 500 million) was fully used in Q1 FY24. For the new Noida manufacturing facility in subsidiary IKIO Solutions (target Rs 2,123.12 million), only Rs 1,218.95 million has been deployed so far, with Rs 904.17 million still pending. General Corporate Purposes (Rs 638.29 million) is nearly fully used at Rs 637.78 million. The Noida facility project has slipped past its original FY25 deadline due to delays in procuring equipment and approvals, and the balance will now be utilised by 31 March 2027. There is no deviation from the stated objects and all required government approvals have been obtained. Idle/unutilised funds of about Rs 906 million are parked in HDFC Bank fixed deposits earning 7.10%–7.75%.
Routine compliance filing with no negative surprise on fund use — no diversion or deviation reported. The acknowledged delay in the Noida facility capex is a mild negative as it pushes the project to FY27, but the unutilised amount continues to earn healthy interest, limiting the damage to shareholders.