Manipal Payment and Identity Solutions Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by Crisil Ratings Limited, confirms that the utilization of proceeds from the company’s Initial Public Offer (IPO) is in line with the objects disclosed in the offer document. No deviations were observed, providing clarity and assurance to investors regarding the fund deployment.
Monitoring Agency Report for Q3 2026 Filed
Manipal Payment and Identity Solutions Limited has formally released its Monitoring Agency Report for the financial quarter concluding on September 30, 2026. This report is a regulatory requirement under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, ensuring transparency in the utilization of funds raised through the company’s Initial Public Offer (IPO).
Crisil Ratings Confirms Compliance
The report, prepared by the appointed Monitoring Agency, Crisil Ratings Limited, indicates that all utilization of the IPO proceeds during the specified quarter was in accordance with the disclosures made in the company’s offer document. The agency stated that there were no deviations from the stated objects of the issue and no material adverse events affecting the viability of these objects.
Financial Details of IPO Proceeds
The total gross proceeds from the IPO amounted to Rs 3,200.00 million, with issue expenses totaling Rs 246.78 million, resulting in net proceeds of Rs 2,953.22 million. As of September 30, 2026, the entire net proceeds of Rs 3,200.00 million, along with reinvested interest, were deployed. The capital expenditure on equipment, a primary object of the IPO, was allocated Rs 2,384.26 million, while Rs 568.96 million was allocated for general corporate purposes. The report also details the deployment of unutilized proceeds, primarily in fixed deposits with ICICI Bank, totaling Rs 3,201.91 million.
Manipal Payment and Identity Solutions Limited has provided information that will be available on their investor relations website, underscoring their commitment to continuous disclosure and stakeholder communication.
Source: BSE
