BlackBuck Limited has released its Monitoring Agency Report for the quarter ended December 31, 2025. ICRA Limited, the monitoring agency, confirms that the utilization of issue proceeds aligns with the company’s objectives. The report, reviewed by the Audit Committee and approved by the Board on February 05, 2026, indicates no deviations in the use of funds.
Issue Proceeds Utilization
BlackBuck Limited’s Monitoring Agency Report for the quarter ending December 31, 2025, confirms that the issuance proceeds are being utilized in line with the objects of the issue. The report was issued by ICRA Limited on February 05, 2026.
Key Highlights from the Report
The report indicates no deviation from the stated objectives, and the utilization of funds is proceeding as planned. The company allocated ₹200 Crore towards sales and marketing costs, ₹140 Crore for investment in Blackbuck Finserve Private Limited, ₹75 Crore for product development, and ₹135 Crore for general corporate purposes.
Progress on Object(s)
As of the end of the quarter, ₹101.729 Crore has been utilized towards sales and marketing costs. The investment in Blackbuck Finserve Private Limited has been fully utilized. ₹32.284 Crore has been utilized for expenditure related to product development, and ₹121.689 Crore has been used for general corporate purposes.
Deployment of Unutilized Proceeds
The company has deployed unutilized proceeds into fixed deposits with various banks and into a public issue A/c. Key holdings include:
- Fixed Deposit with Axis Bank Ltd: ₹0.366 Crore
- Fixed Deposit with Axis Bank Ltd: ₹0.806 Crore
- Fixed Deposit with Kotak Bank Ltd: ₹80.000 Crore
- Fixed Deposit with Kotak Bank Ltd: ₹54.500 Crore
- Fixed Deposit with Kotak Bank Ltd: ₹17.000 Crore
- Fixed Deposit with Axis Bank Ltd: ₹7.667 Crore
- Public Issue A/c: ₹0.376 Crore
- Monitoring Account Balance: ₹0.024 Crore
Source: BSE
