Innovision Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. This report details the utilization of funds raised through its Initial Public Offer (IPO). The report was prepared by CRISIL Ratings Limited and has been reviewed by the company’s Audit Committee. The document confirms that the proceeds are being utilized in line with the objects of the issue, with no major deviations noted.
Innovision Limited Files IPO Proceeds Monitoring Report
Innovision Limited has formally submitted its Monitoring Agency Report concerning the utilization of proceeds from its Initial Public Offer (IPO). The report covers the financial quarter that concluded on September 30, 2026. This submission is in accordance with the requirements stipulated by the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements) Regulations, 2015.
CRISIL Ratings Limited Oversight
The comprehensive report was issued by CRISIL Ratings Limited, acting as the designated Monitoring Agency. It provides an objective view of how the IPO funds have been utilized in relation to the stated objects of the issue. According to the report, the utilization of proceeds is generally in line with the disclosures made in the Offer Document, with no significant deviations observed during the specified quarter.
Audit Committee Review
The draft of the Monitoring Agency Report underwent a thorough review by Innovision Limited’s Audit Committee. This review was conducted at a meeting held on November 13, 2026, ensuring that the findings and conclusions presented in the report were scrutinized and validated by the company’s internal governance body. The report confirms that the use of funds is proceeding as planned, and the company is compliant with the monitoring requirements.
Financial Details and Object Utilization
The report details the initial IPO size, including gross proceeds of Rs 3,192.52 million, with net proceeds amounting to Rs 2,097.99 million after deducting issue expenses. The key objects monitored include repayment of borrowings, funding working capital requirements, and general corporate purposes. For the quarter ended September 30, 2026, the report indicates that proceeds were utilized towards working capital requirements and adjustments for credit facilities, among other stated purposes. No major deviations from the objects of the issue were noted, and shareholder approval was not required for expenditures as they did not represent material deviations. The deployment of unutilized proceeds also indicates a structured approach to fund management.
Source: BSE
