Technocraft Ventures Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, prepared by CARE Ratings Limited, confirms that the ₹201.51 crore raised through the Initial Public Offer (IPO) has been utilized in accordance with the objectives stated in the offer document. Funds were deployed towards working capital requirements, general corporate purposes, and issue expenses, with detailed progress noted for each category.
Monitoring Agency Report on IPO Proceeds
Technocraft Ventures Limited has officially released its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report, prepared by CARE Ratings Limited, serves to ensure transparency and accountability in the utilization of funds raised through the company’s Initial Public Offer (IPO).
Utilization of Funds
The report indicates that the total IPO proceeds amounting to ₹201.51 crore have been allocated and utilized towards the objectives outlined in the company’s offer document. The primary areas of utilization include:
- Funding Working Capital requirements: An amount of ₹139.98 crore has been utilized towards working capital needs.
- General Corporate Purposes: ₹0.55 crore has been deployed towards building work in progress (capital expenditure).
- Issue Expenses: ₹10.25 crore has been utilized for issue-related expenses.
A total of ₹150.78 crore has been utilized as of the end of the quarter, leaving an unutilized amount of ₹50.73 crore. The unutilized proceeds are primarily invested in fixed deposits with HDFC Bank and held in a monitoring account.
Compliance and Future Outlook
The Monitoring Agency Report confirms that the utilization of proceeds aligns with the disclosures made in the offer document. There were no material deviations from the stated objects or the allocated amounts. The company anticipates that future funding requirements will be met through internal accruals and available resources, supported by its healthy order book position and financial standing.
The Board of Directors has reviewed the report and confirmed the utilization of funds, noting that advance payments to suppliers have enabled competitive discounts and improved profitability. The company’s promoters possess extensive experience and remain committed to driving business growth.
Source: BSE
