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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vandan Foods Ltd, a castor oil manufacturer listed on BSE (Scrip: 544436), has submitted its Q4 FY26 Monitoring Agency Report. The company's IPO raised Rs. 30.36 crore in June-July 2025. After deducting Rs. 2.99 crore in issue expenses, net proceeds of Rs. 27.37 crore were available for utilization. As of March 31, 2026, the company has deployed Rs. 30.23 crore total (including issue expenses), leaving only Rs. 0.105 crore unutilized. Notably, there was zero fund deployment in Q4 FY26. The monitoring agency (Infomerics Valuation and Rating Limited) confirmed NO deviation from the stated objects of the issue. However, the board has noted that certain utilization may extend into subsequent financial years due to project execution timelines.
The IPO funds are nearly fully deployed with no deviation from stated objects, which is positive. However, the zero utilization in Q4 FY26 and the board's acknowledgment that proceeds may extend into future years suggests slower-than-expected project execution. The small unutilized balance (Rs. 0.105 crore) minimizes investor concern, but shareholders should monitor whether the castor oil manufacturing expansion progresses as planned.