Dr. Agarwal’s Health Care Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of proceeds from its Initial Public Offer (IPO) is in line with the stated objects of the issue. There has been no material deviation observed in the utilization of funds, with specific details on expenses and allocations provided.
Monitoring Agency Report Submitted
Dr. Agarwal’s Health Care Limited has officially submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report is a regulatory requirement as per SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Utilization of IPO Proceeds
The report, dated November 04, 2026, and prepared by ICRA Limited, the designated Monitoring Agency, confirms that the company’s utilization of the proceeds from its Initial Public Offer (IPO) aligns with the objects outlined in the offer document. Specifically, there has been no material deviation from the planned use of funds.
Key Findings
The report details the expenditure related to the IPO proceeds, including issue-related expenses amounting to INR 12.650 Crore (revised from INR 27.534 Crore). The allocation for general corporate purposes and unidentified inorganic acquisition has been revised to INR 92.350 Crore from an original estimate of INR 77.466 Crore. This revision is attributed to lower-than-estimated offer-related expenses and is within the permissible limit of 35% of Gross Proceeds.
Progress in the utilization of net proceeds indicates that INR 195.000 Crore has been utilized for the repayment/prepayment of borrowings, and INR 92.350 Crore for general corporate purposes. The total amount utilized as of the quarter-end is INR 282.310 Crore, with a total unutilized amount of INR 17.690 Crore at the end of the quarter, which primarily relates to the general corporate purposes allocation.
The implementation of objects, including repayment of borrowings and general corporate purposes, is on schedule according to the offer document. The company has confirmed that all arrangements pertaining to technical assistance and collaboration are in operation, and no unfavorable events have been observed that would affect the viability of the object(s).
The report is also available on the company’s website, www.dragarwals.co.in.
Source: BSE
