ESDS Software Solution Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CRISIL Ratings Limited, details the utilization of proceeds from the company’s Initial Public Offer (IPO). The Audit Committee reviewed the draft report on November 02, 2026, confirming compliance with disclosure requirements.
ESDS Software Solution Limited Submits IPO Proceeds Monitoring Report
ESDS Software Solution Limited has formally submitted its Monitoring Agency Report for the second quarter of fiscal year 2026, ending on September 30, 2026. This report, prepared by CRISIL Ratings Limited, serves as a crucial regulatory filing detailing the utilization of funds raised through the company’s Initial Public Offer (IPO).
Key Details of the Report
The submission aligns with the requirements of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, dated November 2, 2026, was reviewed by the company’s Audit Committee during their meeting on November 02, 2026. This review ensures that the utilization of IPO proceeds is consistent with the objects outlined in the offer document.
Utilization of IPO Proceeds
For the quarter ended September 30, 2026, the report indicates that IPO proceeds were primarily utilized towards general corporate purposes and issue expenses. Specifically, Rs 87.46 million was used for general corporate purposes, while Rs 209.07 million was reimbursed for issue expenses paid from internal accruals. The total utilized amount for these purposes during the quarter was Rs 469.13 million, with a total unutilized amount of Rs 6,730.87 million as of the quarter’s end. The gross proceeds from the IPO amounted to Rs 7,200.00 million.
Monitoring Agency’s Assessment
CRISIL Ratings Limited, acting as the Monitoring Agency, confirmed that the utilization of proceeds was in line with the disclosures made in the Offer Document. The report states that there were no deviations from the objects for which the funds were raised. The report also detailed the deployment of unutilized proceeds, which were largely invested in fixed deposits across various banks, including Axis Bank, Yes Bank, AU Bank, and IndusInd Bank, earning interest income.
The company has also maintained a balance in its public offer account and monitoring account with Axis Bank. The total unutilized proceeds as of September 30, 2026, were Rs 6,730.87 million.
Source: BSE
