Valplast Technologies Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CARE Ratings Limited, confirms that the utilization of proceeds raised through the Initial Public Offering (IPO) aligns with the company’s stated objectives, with no deviation observed. The Audit Committee of Valplast Technologies has reviewed and accepted the report.
Monitoring Agency Report Submitted
Valplast Technologies Limited has officially submitted its Monitoring Agency Report for the financial quarter ending September 30, 2026. This submission is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was prepared by CARE Ratings Limited, acting as the appointed Monitoring Agency.
Key Findings: No Deviation in Fund Utilization
A significant finding of the report is the confirmation that the utilization of the funds raised through the company’s Initial Public Offering (IPO) has been in strict adherence to the objectives disclosed in the Offer Document. Specifically, the report states ‘No deviation’ from the objects for which the funds were raised.
Audit Committee Review
The Monitoring Agency Report was presented to and considered by the Audit Committee of Valplast Technologies Limited during their meeting on November 14, 2026. Following this review, the report was taken on record by the company for submission to the stock exchange, ensuring transparency and accountability regarding the deployment of IPO proceeds.
Breakdown of Proceed Utilization
The report provides a detailed breakdown of the utilization of IPO proceeds. For the quarter ended September 30, 2026:
- Capital Expenditure (for purchase of machinery): Original cost was ₹4.95 crore, revised to ₹0.00. No amount was utilized in this quarter, and it is no longer an object.
- Working Capital Requirement: Original cost ₹14.00 crore, revised to ₹18.95 crore. The company utilized ₹4.95 crore during the quarter, bringing the total utilized to ₹18.95 crore.
- General Corporate Purpose: Original cost ₹6.03 crore, revised to ₹6.03 crore. The company utilized ₹0.1168 crore during the quarter, bringing the total utilized to ₹6.03 crore.
- Issue Expenses: Original cost ₹3.11 crore, revised to ₹3.11 crore. Utilization was already completed in Q3FY26.
The total original cost of the objects was ₹28.09 crore, with the total revised cost also at ₹28.09 crore. The total utilized amount as of the end of the quarter is ₹28.09 crore, indicating full utilization of the IPO proceeds according to the revised objectives.
Reallocation of Funds
A special resolution passed on June 28, 2026, approved the reallocation of unutilized funds previously earmarked for ‘Capital expenditure’ towards ‘General corporate purpose’ and ‘Working capital requirements’. A subsequent board resolution on September 24, 2026, clarified that while the resolution allows for utilization towards both GCP and Working Capital, the company shall utilize the entire amount towards Working Capital requirements.
Source: BSE
