Wakefit Innovations Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by CARE Ratings Limited, details the utilization of proceeds from its Pre-Initial Public Offer and Initial Public Offer. The company confirms that the funds raised were utilized for General Corporate Purposes (GCP) as outlined in the offer document, with no deviations observed during the quarter.
Monitoring Agency Report for Q3 2026 Filed
Wakefit Innovations Limited has submitted its Monitoring Agency Report for the quarter that concluded on September 30, 2026. This report, prepared by CARE Ratings Limited, provides an overview of how the proceeds from the company’s Pre-Initial Public Offer (Pre-IPO) and Initial Public Offer (IPO) have been utilized during the specified period.
Utilization of Proceeds
According to the report, the entire issue size of ₹56.00 crore for the Pre-IPO placement was allocated towards General Corporate Purposes (GCP). For the quarter ended September 30, 2026, there was no utilization of these proceeds. The full amount of ₹56.00 crore remains unutilized and has been parked in fixed deposits. The company’s utilization of funds aligns with the disclosures made in the offer document, with no material deviations noted.
IPO Proceeds Monitoring
For the Initial Public Offer (IPO), Wakefit Innovations had an issue size aggregating to ₹377.18 crore. The report indicates that during the quarter ended September 30, 2026, an amount of ₹41.696 crore was utilized from the IPO proceeds. The cumulative utilization as of the end of the quarter stands at ₹112.019 crore, with a remaining unutilized amount of ₹265.159 crore. The report breaks down the utilization across various categories, including capital expenditure for new stores, lease and rent payments, marketing expenses, and general corporate purposes. Specific to General Corporate Purposes, the utilized amount for the quarter was ₹19.734 crore, bringing the total utilization under this head to ₹40.405 crore.
Fixed Deposit Investments
The unutilized proceeds from both the Pre-IPO and IPO have been invested in various fixed deposits with banking partners including Axis Bank and HDFC Bank. The total invested amount in fixed deposits stands at ₹137.40 crore for the Pre-IPO and ₹12.40 crore with Axis Bank and ₹14.40 crore with Yes Bank for the IPO, totaling ₹265.159 crore in unutilized proceeds across all categories. These investments are structured with varying maturity dates and yield returns ranging from 6.25% to 7.00%.
Compliance and Declarations
The Monitoring Agency Report confirms that the utilization of funds is as per the disclosures in the offer document and that no shareholder approval was required for material deviations. The report also states that there have been no major deviations observed over earlier monitoring agency reports. Wakefit Innovations Limited has provided the necessary certifications and information to the Monitoring Agency for the preparation of this report.
Source: BSE
