One 97 Communications Limited has released its Monitoring Agency Report for the quarter ended March 31, 2026. The report, verified by Axis Bank Limited, confirms that there have been no deviations in the utilization of the initial public offer (IPO) proceeds. The funds allocated for growth, ecosystem strengthening, and new business initiatives are being deployed in accordance with the disclosures provided in the original offer documentation.
Quarterly Utilization Review
As of March 31, 2026, the company has maintained full alignment with the object clauses specified during its IPO. The total issue size of ₹18,300 crore remains strictly governed, with no instances of financial deviation reported. The Audit Committee and the Board of Directors have reviewed and taken on record the findings provided by the monitoring agency, ensuring full transparency regarding capital allocation.
Breakdown of Funds
The company continues to channel capital into core strategic areas. Specifically, ₹4,300 crore is earmarked for the growth and strengthening of the payment ecosystem, including merchant and consumer acquisition. Additionally, ₹2,000 crore is dedicated to investing in new business initiatives, strategic partnerships, and cloud services. As of the end of the January-March 2026 quarter, a total of ₹14 crore was utilized specifically for new business initiatives and payment services.
Unutilized Proceeds and Returns
The company maintains a total unutilized amount of ₹1,986 crore, which is currently held in bank deposits and balances. These funds are generating a return on investment (ROI) of 2.75%. During this quarter, the company also successfully accrued ₹13.02 crore in interest from these deposits, which has been transferred to the General Purpose bank account to further support ongoing operational requirements.
Source: BSE
