Submission of Certificate issued by the Statutory Auditors in respect of utilization of Issue proceeds is attached.
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Awaiting price reaction for this filing.
NACDAC Infrastructure Ltd has submitted a certificate from its statutory auditor (Piyush Kothari & Associates) confirming how the company used the money raised through its IPO. The company had issued 28.6 lakh equity shares at ₹35 each (₹10 face value + ₹25 premium), raising a total of ₹1,001 lakhs (about ₹10.01 crore) and listing on the BSE SME platform on December 24, 2024. Of the total, ₹750 lakhs was earmarked for working capital, ₹142.10 lakhs for general corporate expenses, and ₹108.90 lakhs for issue expenses. As of March 31, 2025, the company has utilized ₹955.21 lakhs (about 95.4%), leaving ₹45.79 lakhs unutilized, which has been parked in fixed deposits. The auditor issued an unmodified opinion, confirming the utilization statement matches the audited financial statements.
This is a routine SEBI compliance filing and shows near-complete deployment of IPO funds as planned, which is a positive sign for shareholders. The small unutilized portion kept in FDs suggests disciplined fund management, though investors may want to track whether the remaining working capital funds are deployed within the stated timeframe.