International Gemmological Institute (India) Limited’s monitoring agency, ICRA Limited, issued its report for the quarter ended December 31, 2025 (Q3 2025). The report indicates that the utilization of issue proceeds aligns with the stated objectives. As of December 31, 2025, the total unutilized amount from the IPO stands at ₹27.213 Crore, deployed in fixed deposits and an escrow account, generating an earning of ₹1.688 Crore. No deviations were observed.
Issue Proceeds Utilization
According to the monitoring agency report by ICRA Limited, the utilization of funds raised through the IPO is in line with the objectives outlined in the issue prospectus. There has been no deviation in the allocation of funds as of December 31, 2025.
Key Financial Data from the IPO
The initial public offering (IPO) details include:
- Issue Size: ₹4,225.000 Crore
- Excluding OFS Portion: ₹1,475.000 Crore
- Net Proceeds as per Prospectus: ₹1,409.740 Crore (Excluding Issue Related Expenses)
Deployment of Unutilized Funds
As of December 31, 2025, the unutilized funds are deployed as follows:
- Fixed Deposits with HDFC Bank Ltd: ₹25.000 Crore
- Public Issue Escrow Account Balance: ₹6.376 Crore
- Total: ₹31.376 Crore
The total earnings on these investments as of the quarter end is ₹1.688 Crore, resulting in a market value of ₹33.064 Crore.
Details of Utilized Funds for General Corporate Purposes
A portion of the IPO proceeds was allocated for general corporate purposes (GCP). The total amount utilized for GCP as of the end of Q3 2025 is ₹84.740 Crore. This includes payments to vendors and for statutory dues.
Extended Financial Year
The company has received approval to shift its financial year from a calendar year (January-December) to a uniform financial year (April-March). To facilitate this transition, the current financial year has been extended to 15 months, commencing on January 1, 2025, and ending on March 31, 2026.
Source: BSE
