IKIO Technologies' monitoring agency report for the quarter ended June 30, 2025, indicates that the IPO proceeds have been fully utilized as per the disclosures in the offer document.
The report, issued by Crisil Ratings Limited, confirms that there were no deviations from the stated objectives. The initial public offering (IPO) of IKIO Technologies was conducted in June 2023.
Details of IPO Proceeds Utilization:
The IPO size comprised a fresh issuance of ₹350.00 crore and an offer for sale of ₹256.50 crore. The net proceeds were revised to ₹326.14 crore.
Key Highlights from the Monitoring Agency Report:
Details of Object(s) to be Monitored:
| Item Head | Original Cost | Revised Cost | Comment of the MA | Proposed Financing Option | Particulars of Firm Arrangements Made |
|---|---|---|---|---|---|
| Repayment/prepayment of certain borrowings | 5.00 | 5.00 | No Revision | No Comments | No Comments |
| Investment in wholly owned Subsidiary, IKIO Solutions Private Limited | 21.23 | 21.23 | No Revision | No Comments | No Comments |
| General Corporate Purposes | 6.69 | 6.38 | Refer note 2 | No Comments | No Comments |
| Total | 32.93 | 32.61 |
Progress in the Object(s):
| Item Head | As per the Offer Document | As at the beginning of the quarter | During the quarter | At the end of the quarter | Total unutilized amount | Comments of the Monitoring Agency | Reasons for idle funds | Proposed course of action |
|---|---|---|---|---|---|---|---|---|
| Repayment/prepayment of certain borrowings | 5.00 | 5.00 | 0.00 | 5.00 | 0.00 | Fully utilised during quarter ended June 30, 2025 | No Comments | No Comments |
| Investment in wholly owned Subsidiary, IKIO Solutions Private Limited | 21.23 | 12.19 | 0.96 | 13.15 | 8.08 | No comments | No Comments | No Comments |
| General Corporate Purposes | 6.38 | 6.38 | 0.00 | 6.38 | 0.01 | No comments | No Comments | No Comments |
| Total | 32.61 | 23.57 | 0.96 | 24.53 | 8.09 |
The board of directors has approved the utilization of net proceeds for FY 2025-26 amounting to ₹70.00 crore.
Deployment of Unutilised Proceeds:
As of the reporting period, the unutilised proceeds were deployed in fixed deposits with HDFC Bank and balances in monitoring and object accounts.
The monitoring agency report provides an overview of the utilization of funds raised through the IPO, ensuring compliance and transparency for investors.
The monitoring agency report provides an overview of the utilization of funds raised through the IPO, ensuring compliance and transparency for investors.
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