IKIO Technologies Reports Full Utilization of IPO Proceeds as of June 2025
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:
- Deviation from Objects: Not applicable
- Range of Deviation: Not applicable
- All Utilization as per Disclosures: Yes
- Shareholder Approval for Material Deviations: Not applicable
- Change in Means of Finance: No
- Major Deviation Observed: No
- Government/Statutory Approvals: Yes
- Technical Assistance/Collaboration: Not applicable
- Favorable Events Improving Viability: No
- Unfavorable Events Affecting Viability: No
- Other Relevant Information: No
Details of Object(s) to be Monitored:
Cost of the Objects (in ₹ crore)Item HeadOriginal CostRevised CostComment of the MAProposed Financing Option
Particulars of Firm Arrangements Made
Repayment/prepayment of certain borrowings5.005.00No RevisionNo Comments
No CommentsInvestment in wholly owned Subsidiary, IKIO Solutions Private Limited21.2321.23No RevisionNo Comments
No CommentsGeneral Corporate Purposes6.696.38Refer note 2No Comments
No CommentsTotal32.93
32.61
Progress in the Object(s):
Progress in the Object(s) (in ₹ crore)Item HeadAs per the Offer DocumentAs at the beginning of the quarterDuring the quarterAt the end of the quarterTotal unutilized amountComments of the Monitoring AgencyReasons for idle funds
Proposed course of action
Repayment/prepayment of certain borrowings5.005.000.005.000.00Fully utilised during quarter ended June 30, 2025No Comments
No CommentsInvestment in wholly owned Subsidiary, IKIO Solutions Private Limited21.2312.190.9613.158.08No commentsNo Comments
No CommentsGeneral Corporate Purposes6.386.380.006.380.01No commentsNo Comments
No CommentsTotal32.6123.570.9624.53
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.