Karamtara Engineering Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by India Ratings and Research Private Limited, details the utilization of funds raised from the Initial Public Offering (IPO). The findings confirm that the proceeds have been utilized in line with the objects stated in the Offer Document and reviewed by the Audit Committee and Board of Directors.
Karamtara Engineering Submits IPO Fund Utilization Report
Karamtara Engineering Limited has filed its Monitoring Agency Report for the quarter ending September 30, 2026. This report is in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Report Details and Findings
The Monitoring Agency Report was prepared by India Ratings and Research Private Limited. It covers the utilization of proceeds from the company’s Initial Public Offering (IPO). According to the report, there have been no deviations from the stated objects of the IPO. The utilization of funds has been in accordance with the disclosures made in the Offer Document.
The report was based on management undertakings, statutory auditor certificates, prospectus information, and relevant bank statements. The details confirm that all utilization aligns with the approved uses of the IPO funds.
Board and Audit Committee Review
The aforementioned report has been reviewed by the Audit Committee and subsequently taken on record by the Board of Directors of Karamtara Engineering Limited. These reviews took place during their respective meetings held on November 5, 2026. This disclosure is also being made available on the company’s official website, www.karamtara.com.
Key IPO Information
The IPO details indicate that the issue period was from September 9, 2026, to September 11, 2026, with an issue size of approximately INR 6,750.00 million for the fresh issue, aggregating to a total issue size of INR 8,750 million including an offer for sale.
The primary objects of the IPO included funding prepayment, repayment of obligations to lenders, and general corporate purposes. The report indicates that as of the end of the quarter, a total of INR 4,181.14 million had been utilized, leaving an unutilized amount of INR 2,568.86 million. The major portion of the utilized funds was for funding prepayment and repayment obligations to lenders, amounting to INR 3,967.59 million.
Specifically for General Corporate Purposes, INR 213.55 million was utilized, with the main components being ‘Custom duty Payment’ (INR 182.52 million) and ‘Freight Vendor Payment’ (INR 31.04 million).
The report also detailed the deployment of unutilized IPO proceeds. As of the quarter end, INR 2,707.65 million was invested in various fixed deposits and escrow accounts across different banks, including Yes Bank, HDFC Bank, Bank of Baroda, and Axis Bank, with maturity dates in late 2026.
Source: BSE
