Pursuant to Regulation 30 SEBI (LODR), 32(6) of the SEBI (LODR), 2015 read with Reg 41(2) and 173A of the SEBI (ICDR) Regulations, 2018, Monitoring Agency Report is attached

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AI summary

Purple Wave Infocom Limited, a digital PRO AV solutions company, filed its first Monitoring Agency Report for its SME IPO of Rs. 31.45 crore (November-December 2025). The IPO was oversubscribed 6-7 times. Net proceeds of Rs. 26.86 crore have been fully deployed: Rs. 12.91 crore for property purchase, Rs. 10 crore for loan repayment, Rs. 3.95 crore for general corporate purposes, and Rs. 4.59 crore for issue expenses. A key deviation was flagged: the company originally planned to buy office space at MNG Tower, Dwarka, but due to the seller's inability to proceed, purchased an alternative property in Gurugram for the same Rs. 12.91 crore. The monitoring agency noted that shareholder approval was not obtained for this change, which the company disputes.

Likely market impact

The company has fully deployed IPO funds, but the change in property purchase location without shareholder approval raises governance concerns. Investors should monitor whether SEBI takes action on this compliance issue.