Mehul Colours Limited has provided a certificate detailing the utilization of its Initial Public Offer (IPO) proceeds up to September 30, 2026. The report, certified by Y M S & Co LLP Chartered Accountants, outlines the allocation of funds across various objectives, including capital expenditure for a new manufacturing facility, working capital requirements, and general corporate purposes. A significant portion of the allocated funds for capital expenditure remains unutilized, temporarily held in a separate bank account.
Mehul Colours Limited Reports IPO Fund Utilization
Mehul Colours Limited has issued a certificate of disclosure regarding the utilization of proceeds from its Initial Public Offer (IPO) up to September 30, 2026. The certificate, provided by Y M S & Co LLP, Chartered Accountants, details how the raised funds have been allocated and utilized in accordance with the objects disclosed in the offer document.
Fund Allocation and Utilization Breakdown
According to the disclosure, a total of ₹2,165.76 lakhs was raised through the IPO. The primary uses of these funds were:
- Funding of capital expenditure towards the setup of a new manufacturing facility: Of the ₹1,463.48 lakhs allocated, ₹680.73 lakhs has been utilized, leaving ₹782.75 lakhs unutilized. This unutilized amount is temporarily lying in a separate bank account.
- Funding of Working Capital Requirements: The full allocated amount of ₹400.00 lakhs has been utilized.
- General Corporate Purpose: Out of ₹21.13 lakhs allocated, ₹9.17 lakhs has been utilized, with ₹11.96 lakhs remaining unutilized and temporarily held in a separate bank account.
- Issue related expenses in relation to the Issue: The total allocated amount of ₹281.15 lakhs has been utilized.
Total Utilization Summary
In total, the company has utilized ₹1,371.05 lakhs out of the ₹2,165.76 lakhs raised, with a remaining unutilized amount of ₹794.71 lakhs as of the reporting period. The statement has been reviewed by the Audit Committee and taken on record by the Board of Directors.
Source: BSE
