Indegene has released its Monitoring Agency Report for the quarter ended September 30, 2025 (Q2 FY26). The report, issued by CareEdge Ratings, confirms that the utilization of funds from the company’s IPO is aligned with the stated objectives. A special resolution was passed to approve a variation in the utilization of IPO proceeds, reallocating ₹34.99 crore to technology and cloud infrastructure costs.
IPO Fund Utilization Update
Indegene has announced the details of its Monitoring Agency Report concerning the utilization of funds raised through its Initial Public Offering (IPO). The report, which covers the period ending September 30, 2025 (Q2 FY26), has been issued by CareEdge Ratings, the designated Monitoring Agency.
Key Highlights from the Report
The Monitoring Agency’s report confirms that the company has utilized the gross proceeds from its IPO in line with the objectives outlined in the offer document. No deviations were noted in the utilization of these funds, indicating that the capital is being deployed as initially intended.
Reallocation of Funds
A special resolution dated August 12, 2025, has approved a variation in the planned utilization of funds, redirecting ₹34.99 crore from capital expenditure for Indegene Inc. to investments in technology, cybersecurity, and cloud infrastructure. This change aims to support and enhance these crucial technological capabilities.
Unutilized Funds Deployment
As of the end of the quarter, the total unutilized funds amounted to ₹85.83 crore. These funds have been deployed in fixed deposits and monitoring accounts, ensuring their secure and liquid availability for future planned expenditures.
Expenses and Estimates
Issue-related expenses for Selling Shareholders have increased by ₹0.50 crore, resulting in an excess reimbursement taken by the company. Management anticipates lower issue expenses compared to initial estimates and intends to utilize excess funds towards OFS-related issue expenses. This surplus amounts to approximately ₹1.22 million, which will be added to one of the issue’s objectives pending board approval.
Source: BSE
