Submission of certificate issued by the Statutory Auditor in respect of Utilization of issue proceeds
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Awaiting price reaction for this filing.
NACDAC Infrastructure has submitted a certificate from its statutory auditor (Piyush Kothari & Associates) confirming how it has used the money raised from its IPO. The company raised ₹1,001.00 lakhs (₹10.01 crore) via an IPO on BSE SME in December 2024 by issuing 28.6 lakh shares at ₹35 each (₹10 face value + ₹25 premium). Of this, ₹750 lakhs was earmarked for working capital, of which ₹710 lakhs has been used and ₹40 lakhs remains unutilized. The full ₹142.10 lakhs for general corporate purposes and ₹108.90 lakhs for issue expenses have been completely spent. Overall, ₹961 lakhs out of ₹1,001 lakhs has been deployed, and the remaining ₹40 lakhs is parked in fixed deposits.
This is a routine half-yearly compliance filing required by SEBI and does not change the investment thesis. The near-complete deployment of IPO funds signals the company is actively putting its capital to work, while parking the leftover ₹40 lakhs in FDs shows prudent cash management. No material red flags or deviations from the stated IPO purpose were reported.