Monitoring Agency Report for the quarter ended March 31, 2026.
UNIMECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings, as monitoring agency for Unimech's Rs. 250 crore IPO (December 2024), submitted its Q4 FY2026 report. The company has utilized Rs. 153.30 crore of IPO proceeds as of March 31, 2026, leaving Rs. 96.70 crore unutilized, which is parked in fixed deposits with ICICI Bank and Axis Bank. A significant change occurred in November 2025 when shareholders approved, via postal ballot, reallocating Rs. 61.287 crore from original objects (machinery purchase, subsidiary investment, and borrowings repayment) to a new object covering Mergers & Acquisitions, Joint Ventures, and Greenfield Projects. The M&A allocation of Rs. 61.29 crore remains fully unutilized as of March 31, 2026, with the company stating it is evaluating potential targets. Working capital funds of Rs. 11.83 crore and issue expenses of Rs. 2.20 crore also remain unutilized.
The reallocation of over 40% of IPO proceeds to GCP and unidentified acquisitions exceeds the SEBI-prescribed 35% limit under Regulation 7(3), though done with shareholder approval. This could attract regulatory scrutiny. The low utilization rate (only 61% deployed) means significant IPO proceeds are still deployed in fixed deposits, with expansion plans delayed to FY2026-27.