SSMD Agrotech India Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, prepared by Infomerics Ratings, details the utilization of funds raised from the company’s Initial Public Offering (IPO). The company confirms that fund utilization has been in line with the disclosures made in the offer document, with no significant deviations or material changes observed.
Monitoring Agency Report for Q2 2026 Filed
SSMD Agrotech India Limited has officially submitted its Monitoring Agency Report for the financial quarter concluding on June 30, 2026. This report, prepared by Infomerics Ratings, serves to monitor the utilization of the proceeds raised from the company’s recent Initial Public Offering (IPO).
Key Findings on Fund Utilization
The report indicates that the utilization of IPO proceeds aligns with the objectives outlined in the company’s offer document. Specifically:
- Funding of Working Capital: The company has utilized ₹0.3975 crore during Q1FY27. The total unutilized amount stands at ₹5.3503 crore.
- Repayment of Borrowings: An amount of ₹0.1498 crore was utilized during Q1FY27, with ₹1.3835 crore remaining unutilized.
- Capital Expenditure for D2C Stores: The company has not utilized any amount during Q1 FY27 for setting up new D2C dark stores, with ₹1.9820 crore unutilized.
- Capital Expenditure for Namkeen Plant: An amount of ₹0.0941 crore was utilized for purchasing machinery for the Namkeen Automated Plant during Q1FY27, leaving ₹0.7775 crore unutilized.
- General Corporate Purpose: The company utilized ₹0.3082 crore for general corporate purposes during Q1FY27, with ₹1.7218 crore still unutilized.
- Issue Related Expense: No amount was utilized for issue-related expenses during Q1 FY27, with ₹0.1413 crore remaining unutilized.
Overall Financial Position
The total IPO issue size was ₹34.09 crores. As of the end of Q1FY27, the total amount utilized stands at ₹22.7292 crore, with an unutilized amount of ₹11.3565 crore. The company has invested the unutilized funds in a Fixed Deposit with ICICI Bank Ltd, amounting to ₹11.3397 crore. The report confirms no delay in the implementation of the stated objects.
Declaration of Compliance
The monitoring agency, Infomerics Ratings, has declared that the report provides an objective view of the utilization of issue proceeds. They have relied on information provided by the issuer and sources believed to be accurate, without performing an audit or independent verification. The company’s management has also confirmed the accuracy of the details presented.
Source: BSE
