Caliber Mining and Logistics Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. Prepared by CARE Ratings Limited, the report confirms that the utilization of Initial Public Offer (IPO) proceeds has been in line with the disclosures made in the offer document, with nil deviation from stated objectives.
Monitoring Agency Report Confirms No Deviation in IPO Fund Utilization
Caliber Mining and Logistics Limited has officially released its Monitoring Agency Report for the quarter ending September 30, 2026. This report, meticulously prepared by CARE Ratings Limited, serves as the first assessment since the company’s Initial Public Offer (IPO).
Key Findings of the Report
The core finding of the report, covering the period from July 24, 2026, to September 30, 2026, is the confirmation of nil deviation in the utilization of IPO proceeds. This indicates that the company has adhered strictly to the objectives and disclosures outlined in its offer document, providing assurance to investors regarding the proper deployment of raised capital.
Financial Overview and Utilization Details
During the second quarter of fiscal year 2027 (Q2FY27), Caliber Mining and Logistics received total gross proceeds of ₹450 crore in its Public Offer Account. Of this amount, ₹400 crore was attributable to the fresh issue, and ₹50 crore related to the Offer for Sale (OFS). The company’s share of total issue expenses amounted to ₹22.84 crore, leaving net proceeds of ₹377.16 crore available for utilization.
In Q2FY27, the company utilized ₹371.60 crore towards the stated objects of the issue. Additionally, ₹8.32 crore was paid directly from the escrow account for issue expenses, with ₹12.21 crore transferred to the company’s current account as reimbursement for previously incurred issue expenses. The total utilized amount for the quarter reached ₹392.13 crore, leaving an unutilized amount of ₹7.87 crore, which includes funds allocated for issue expenses.
Objects of the Issue
The report details the monitoring of specific objects for which funds were raised:
- Repayment/prepayment of borrowings: The original cost was ₹208.00 crore. The entire amount has been utilized during the quarter, with ₹208.00 crore used, leaving ₹0.00 crore unutilized.
- Funding capital expenditure for commercial vehicles, plant, and machinery: The original cost was ₹167.00 crore. In Q2FY27, the company utilized ₹163.60 crore towards purchasing vehicles, leaving ₹3.40 crore unutilized.
- General corporate purposes: The original allocation was ₹2.16 crore. The company has not utilized any portion of this amount, with ₹2.16 crore remaining unutilized.
- Issue expenses: The original cost was ₹22.84 crore. During the quarter, ₹20.53 crore was utilized, leaving ₹2.31 crore unutilized.
The total utilized amount across all objects stands at ₹392.13 crore, with a total unutilized amount of ₹7.87 crore by the end of the quarter.
Board of Directors’ Comments
Throughout the report, the Board of Directors has consistently stated ‘No comments received’ or ‘No comments received’ for various sections, including reasons for delay and proposed course of action, indicating a smooth progression in the utilization of funds as per the IPO objectives.
Source: BSE
