Revised Monitoring Agency Report under Regulation 32 of SEBI (LODR), Regulations, 2015 for the quarter ended on December 31, 2025.
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Awaiting price reaction for this filing.
Oval Projects Engineering has filed a revised Monitoring Agency Report (replacing the one filed on Feb 20, 2026) for its Rs. 46.74 crore IPO. The report from Infomerics Valuation and Rating confirms zero deviation from the stated purpose of raising funds. Of the total Rs. 46.74 crore raised, Rs. 38.25 crore has been utilized so far — Rs. 29.10 crore for working capital, Rs. 3.85 crore for general corporate purposes, and Rs. 5.30 crore for issue expenses. During the October–December 2025 quarter alone, Rs. 17.49 crore was deployed. The company also front-loaded Rs. 13.36 crore of payments that were originally scheduled for FY27, indicating faster execution. Unutilized funds of about Rs. 8.48 crore are parked in fixed deposits (Yes Bank, ICICI, Bank of Baroda) and a monitoring account with Axis Bank.
This is a routine compliance filing confirming that IPO money is being used as promised, with no misuse or diversion. The early deployment of funds is mildly positive for execution confidence, though the noted comingling of funds across current and cash credit accounts is a minor governance flag worth tracking.