ICRA reports no deviation in initial public offering fund use
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ICRA's report for the quarter ended September 30, 2026 found no deviation from the stated use of initial public offering funds and no major change from earlier reports. Of Rs 1,475 crore monitored, Rs 1,474.279 crore had been used, leaving Rs 0.721 crore for pending issue expenses. The Rs 1,300 crore acquisition payment and Rs 109.740 crore for general corporate purposes were fully completed. No delay or adverse event was reported.
Neutral: fund use matches the stated plan, acquisition funding is fully deployed and only Rs 0.721 crore of expense invoices remain.