Monitoring Agency Report for the quarter ended March 31, 2026
MOBIKWIK · price
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CARE Ratings Limited, the monitoring agency for One MobiKwik's IPO, has submitted its Q4 FY2026 report. The company raised Rs. 572 crore through its IPO in December 2024, of which Rs. 384.39 crore (67%) has been utilized as of March 31, 2026, leaving Rs. 187.61 crore unutilized. The unutilized funds are primarily held in Fixed Deposits with scheduled commercial banks (Rs. 195.70 crore including interest). The monitoring agency noted delays in utilizing proceeds for Objects 1 (Financial Services - Rs. 60.85 crore pending) and Object 3 (R&D in data, ML and AI - Rs. 25.26 crore pending), which were originally scheduled for completion by FY2026. The company reported a net loss of Rs. 66.49 crore for 9MFY26, though it achieved a PAT of Rs. 4.05 crore in Q3FY26 on a consolidated basis. Management stated that unutilized funds will be deployed after obtaining necessary approvals.
Shareholders should note that roughly one-third of IPO proceeds remain unused with delays in key business expansion areas. While the company turned profitable in Q3, ongoing losses and regulatory changes in the industry present risks. The delay in fund deployment may impact growth timelines.