Advit Jewels Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CRISIL Ratings Limited, confirms the utilization of proceeds from the company’s Initial Public Offer (IPO) in line with the disclosures made in the offer document. The utilized funds have been directed towards working capital, repayment of borrowings, and general corporate purposes, with all activities deemed to be in order.
Advit Jewels Limited: Q3 2026 IPO Proceeds Monitoring Report
Advit Jewels Limited has officially submitted its Monitoring Agency Report to the stock exchanges, detailing the utilization of funds raised through its Initial Public Offer (IPO) for the quarter ending September 30, 2026. The report, prepared by CRISIL Ratings Limited, the appointed Monitoring Agency, indicates that the proceeds have been utilized in accordance with the objects stated in the company’s offer document.
Utilization of Funds
According to the report, the proceeds from the IPO and pre-IPO placements have been allocated towards several key areas. The utilized amounts are primarily for working capital requirements, repayment of outstanding borrowings from scheduled commercial banks, and general corporate purposes. The report confirms that the utilization is consistent with the disclosures made in the offer document, and no major deviations were observed.
Pre-IPO and IPO Proceeds Breakdown
For the Pre-IPO proceeds, ₹2,290.00 lakhs were allocated towards general corporate purposes. For the IPO proceeds, a total of ₹14,420.81 lakhs (Net Proceeds) were deployed. These IPO funds were utilized for:
- ₹6,500.00 lakhs towards funding incremental working capital requirements.
- ₹6,500.00 lakhs towards repayment/pre-payment of borrowings.
- ₹1,420.81 lakhs towards general corporate purposes.
Issue expenses amounting to ₹2,095.03 lakhs were also covered using the proceeds.
Deployment of Unutilised Proceeds
As of September 30, 2026, the unutilized proceeds amounted to ₹5,799.98 lakhs. These funds have been invested in various instruments, including fixed deposits with ICICI Bank and HDFC Bank, as well as maintained in monitoring and current accounts. The earnings from these unutilized funds are managed separately and are not part of the core monitoring scope.
Implementation of Objects
The report also addresses the timeline for implementing the IPO objects. The object of ‘Funding incremental working capital requirements’ is projected for completion by Q2 FY 2027, with ₹3,614.70 lakhs utilized to date. ‘Repayment/pre-payment of borrowings’ has been Completed as per the Q2 FY 2027 actuals. ‘General corporate purposes’ are projected for completion by Q2 FY 2027, with ₹804.21 lakhs utilized so far.
Source: BSE
