Corporate News Details

Rs. 198.70 crore of IPO proceeds remain in fixed deposits, facing deployment delays

(04-Aug-26   14:12)

A Monitoring Agency report reveals that Rs. 198.70 crore of initial public offering (IPO) proceeds remain in fixed deposits as of July 30, 2026, earning Rs. 13.12 crore in interest. While some planned investments are on track, others face delays extending to fiscal year 2027, and no funds have been utilized for the originally intended General Corporate Purpose (GCP), although Rs. 3.91 crore has been reallocated from IPO issue expenses to GCP. The report, which details fixed deposits held with Kotak, HDFC, and IDFC banks, highlights a slower-than-anticipated deployment of capital and warrants scrutiny of the GCP reallocation, though the company has demonstrated transparency in providing the detailed breakdown.