Announcement under Regulation 30 SEBI (LODR)- Monitoring Agency Report for the Quarter ended March 31, 2026
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Updater Services Limited submitted its Q4 FY2026 Monitoring Agency Report prepared by ICRA Limited, confirming full utilization of INR 377.76 crore from its IPO proceeds (net: INR 377.87 crore). The IPO was conducted in September 2023 with an issue size of INR 640 crore. All four object heads have been fully utilized: INR 133 crore for debt repayment, INR 115 crore for working capital, INR 80 crore for inorganic initiatives, and INR 49.76 crore for general corporate purposes. Only INR 0.11 crore remains unutilized, parked in the public issue account for issue-related expenses. ICRA reported no deviations from the stated objects of the issue and confirmed all project timelines are on schedule as per the offer document.
This is a routine compliance filing with no negative implications for shareholders. The company has successfully deployed all IPO proceeds as promised, with no deviations or delays reported. This indicates proper fund management and adherence to disclosure commitments.