Monitoring Agency Report for Quarter ended March 31, 2026..
MEESHO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CRISIL Ratings Limited, the Monitoring Agency, has submitted its report on Meesho's IPO fund utilisation for Q4 FY2026 (quarter ended March 31, 2026). The IPO, which closed in December 2025, raised Rs 42,500 million in gross proceeds. During the quarter, Rs 3,375.27 million was deployed, bringing cumulative utilisation to Rs 3,748.52 million. The funds were allocated across four purposes: cloud infrastructure (Rs 1,185.95 million utilised), ML/AI technology salaries (Rs 258.69 million), and marketing/brand initiatives (Rs 1,228.00 million). Issue expenses of Rs 702.63 million were also paid during the quarter. The remaining Rs 38,751.48 million is parked in fixed deposits with Kotak, RBL, and Axis banks. Actual issue expenses (Rs 1,495.10 million) came in lower than the estimated Rs 1,621.70 million, and this Rs 126.60 million saving was added back to the net proceeds.
No deviations from IPO objectives were detected. The majority of IPO proceeds remain unutilised and safely deployed in fixed deposits, suggesting a phased deployment aligned with the stated objects. For shareholders, this indicates disciplined fund management with no red flags.