Kanohar Electricals Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, detailing the utilization of funds raised through its Initial Public Offer (IPO). The report, prepared by CARE Ratings Limited, confirms that fund utilization was in line with the objects of the offer during the specified quarter. The company has also made this report available on its official website.
Monitoring Agency Report Submission
Kanohar Electricals Limited announced today the submission of its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report provides an update on the utilization of proceeds raised from the company’s Initial Public Offer (IPO).
Key Findings from the Report
The report, prepared by the appointed Monitoring Agency, CARE Ratings Limited, indicates that the utilization of IPO proceeds during the quarter was in compliance with the disclosures made in the offer document. Specifically, the report covers the period of the second quarter of the financial year 2026-27 (Q2 FY27).
The company has affirmed that the utilization of funds for the objects of the issue was in order as per the disclosures. The report also highlights that there were no major deviations observed over earlier monitoring agency reports and that all shareholder approvals for material deviations have been obtained.
Furthermore, the report details the breakdown of the ₹300 crore IPO proceeds, showing the amount utilized for various objects including offer-related expenses, capital expenditure for plant and machinery, incremental working capital, and general corporate purposes. As of September 30, 2026, the total unutilized amount stood at ₹261.44 crore, with a significant portion invested in fixed deposits.
Public Accessibility
In line with regulatory requirements and transparency, Kanohar Electricals has also made this Monitoring Agency Report accessible on its official website at https://www.kanohar.com/regulation46.
Source: BSE
