Ethos Limited has released its final Monitoring Agency Report for the quarter ended December 31, 2025. The report, issued by CRISIL Ratings Limited, confirms that the company has fully utilized the net proceeds of its Initial Public Offering (IPO). The funds were allocated towards pre-defined objectives, including store expansion, working capital requirements and enterprise resource planning (ERP). The proceeds were utilized in accordance with the offer document.
IPO Proceeds Fully Utilized
Ethos Limited confirms the full utilization of its Initial Public Offering (IPO) proceeds as of December 31, 2025. The final Monitoring Agency Report, issued by CRISIL Ratings Limited, validates the allocation of funds in line with the company’s stated objectives.
Allocation Highlights
The IPO proceeds were strategically deployed across key areas to support Ethos’s growth strategy:
- Repayment/pre-payment of borrowings: A total of ₹2,989.09 lakh was allocated towards reducing the company’s debt burden.
- Funding working capital requirements: ₹23,496.22 lakh was invested in bolstering working capital to support business operations.
- Financing the establishment of new stores and renovation of certain existing stores: ₹3,327.28 lakh was directed towards expanding Ethos’s retail footprint.
- Financing the upgradation of enterprise resource planning (ERP) software: ₹198.01 lakh was allocated towards enhancing the company’s technological infrastructure.
- General Corporate Purposes (GCP): ₹3,958.35 lakh was utilized for various corporate needs.
Revised Utilization Timeline
Initially, the funds were slated for utilization by September 21, 2025. However, due to factors such as GRAP restrictions in Delhi NCR and delays in design approvals, the utilization timeline for store expansions and renovations was extended. Shareholder approval was obtained to extend the timeline to June 30, 2026.
Source: BSE
