Jeena Sikho Lifecare Limited has informed the Exchange regarding 'Auditor Certificate on IPO Utilization Proceeds'.
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Jeena Sikho Lifecare Limited has submitted the auditor's certificate on how it used the money raised from its IPO in April 2022, which brought in Rs. 5,550 lakh in total. The company confirmed that there was a deviation from the original plan: Rs. 2,400 lakh originally meant for Marketing & Sales Promotion (Rs. 1,400 lakh) and Working Capital (Rs. 1,000 lakh) was reallocated to purchase land for setting up and building hospitals and clinics. This change was approved by shareholders at an EGM held on December 31, 2022. As of March 31, 2025, all Rs. 5,550 lakh has been fully utilised across the revised objects. The auditor (KRA & Co.) has certified the utilisation, and the Audit Committee had no further comments.
The reallocation signals a strategic shift from brand marketing to physical healthcare infrastructure (hospitals/clinics), which may change the company's growth trajectory. Since funds are fully deployed, near-term capital raises for these projects are unlikely, though execution risk on the hospital expansion remains for shareholders to monitor.