Brainbees Solutions Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of proceeds from the company’s public issue of equity shares is in line with the stated objectives. There have been no deviations observed in the deployment of funds, indicating transparent financial management and adherence to the offering’s purpose.
Monitoring Agency Report Confirms Fund Utilization
Brainbees Solutions Limited has released its Monitoring Agency Report for the quarter concluding on June 30, 2026. This report, prepared by ICRA Limited as the Monitoring Agency, scrutinizes the utilization of funds raised through the company’s recent public issue of equity shares.
Key Findings: No Deviations
The primary finding of the report is that the utilization of the issuance proceeds is consistent with the original objects of the issue. Specifically, the report states, “No deviation – the utilization of the issuance proceeds is in line with the objects of the issue.” This confirmation is crucial for investor confidence, demonstrating that the company is adhering to its commitments made during the public offering.
Report Scope and Verification
ICRA Limited’s report is based on information provided by Brainbees Solutions Limited and other sources believed to be accurate. The agency performed its monitoring function without conducting an audit or independent verification of all received information. The report covers the period up to June 30, 2026, and details the various cost components and progress against the objects outlined in the offer document. Notably, all reported expenditures align with the original planned costs, with no significant revisions or variances observed as of the reporting date.
Utilization of Proceeds
The report provides a detailed breakdown of the utilization of proceeds across various objectives, including expenditure for setting up new modern stores, lease payments for existing stores, investment in subsidiaries for expansion, and sales and marketing initiatives. The total net proceeds as per the prospectus were INR 1,601.735 Crore. As of June 30, 2026, a total of INR 979.668 Crore had been utilized, leaving a balance of INR 686.332 Crore unutilized. The deployment of unutilized proceeds is primarily in fixed deposits with reputable banks.
Source: BSE
