Intimation under Regulation 32(6) of SEBI (Listing Obligation Disclosure Requirements) Regulation 2015 - Monitoring Agency Report Q4 FY 24-25
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Updater Services has submitted the ICRA Monitoring Agency Report for Q4 FY25, covering utilization of its IPO proceeds. The company raised a total of Rs. 640 crore in its September 2023 IPO, with net proceeds of Rs. 377.87 crore earmarked for specific objects. As of March 31, 2025, Rs. 377.76 crore has been fully deployed across all four planned purposes: Rs. 133 crore for repaying borrowings, Rs. 115 crore for working capital, Rs. 80 crore for inorganic initiatives, and Rs. 49.76 crore for general corporate purposes. Only Rs. 0.11 crore remains unutilized, parked in the public issue account. ICRA confirmed no deviation from the stated objects, no major deviation from earlier reports, and that all implementations are on schedule as per the offer document.
This is a routine positive compliance update confirming the company has used IPO funds exactly as promised to investors, with no diversions or delays. For shareholders, it reinforces governance credibility and transparency, though it carries no material impact on stock price since the deployment is now nearly complete.