Monitoring Agency Report under regulation 32 of SEBI (LODR) Regulations, 2015 for the Quarter ended on March 31, 2026
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Oval Projects Engineering Ltd submitted its Q4 FY26 monitoring agency report for the Rs. 46.74 crore IPO completed in August-September 2025. The company raised Rs. 46.74 crore through issuance of 54,99,200 equity shares at Rs. 85 per share, fully subscribed. As of March 31, 2026, Rs. 38.96 crore (83%) has been utilized out of net proceeds of Rs. 40.97 crore (after Rs. 5.77 crore IPO expenses). Working capital utilization stands at Rs. 29.81 crore of Rs. 37.03 crore allocated. Notably, the company prepaid Rs. 14.07 crore of working capital expenses in FY 2025-26 ahead of the scheduled FY 2026-27 deployment. Unutilized Rs. 7.78 crore is parked in fixed deposits with Yes Bank, ICICI Bank, Bank of Baroda, and Axis Bank. No deviations from stated objects or delays reported.
The IPO proceeds are being deployed largely as planned with no material deviations. The early prepayment of working capital expenses indicates efficient fund utilization. Shareholders can note that 83% of net proceeds have been deployed within 6 months of IPO, with the remaining Rs. 7.78 crore held in liquid fixed deposits.