Ethos Limited has announced that the entire proceeds from its Initial Public Offering (IPO) have been fully utilized as of December 31, 2025. There were no deviations or variations in the use of these funds during Q4 2025, aligning with the objectives outlined in the prospectus dated May 25, 2022. This milestone indicates the successful allocation of capital towards the company’s strategic goals.
IPO Funds Utilization
Ethos Limited confirms that the proceeds from its IPO have been fully utilized as of December 31, 2025. The funds were allocated according to the objectives stated in the company’s prospectus. The full utilization highlights Ethos Limited’s commitment to its strategic plans and growth initiatives.
Details of Fund Allocation
The IPO funds were primarily allocated to the following key areas:
- Repayment or pre-payment of borrowings: Rs 2,989.09 Lakh
- Funding working capital requirements: Rs 23,496.22 Lakh
- Financing the establishment of new stores and renovation of existing stores: Rs 3,327.28 Lakh
- Financing the upgradation of enterprise resource planning software: Rs 198.01 Lakh
- General corporate purposes: Rs 3,958.35 Lakh
The deployment reflects the company’s strategic focus on debt reduction, operational efficiency, and expansion of its retail presence.
Explanation of Deviations
The deployment of funds for new stores and renovations, initially planned earlier, faced delays due to mall operation commencement issues and store opening delays. An amount of Rs 979.72 lakh was reallocated with shareholder approval obtained on March 21, 2024, and again on September 15, 2025.
Additionally, delays in utilizing funds for store establishments were encountered due to GRAP restrictions in Delhi NCR and delays in design approvals from global brands. The timeline for utilizing these funds was extended with shareholder approval, ensuring effective capital allocation. The new deadline for the remaining allocation is June 30, 2026.
Source: BSE
