| <p>Brickwork Ratings India Private Limited has reported that a company that raised Rs 10.07 crore through an initial public offering on November 25, 2025, has largely utilized the funds as disclosed in its Offer Document. The monitoring agency’s report, dated November 5, 2026, indicates that Rs 2.00 crore was used to repay borrowings, while Rs 2.82 crore was allocated to advertising expenses. A significant portion, Rs 1.53 crore, remains unutilized for software acquisition, and Rs 0.02 crore for general corporate purposes, with the unutilized proceeds primarily held in fixed deposits with ICICI Bank. The report notes ongoing activities related to advertising, software acquisition, and general corporate purposes, with any remaining shortfalls expected to be addressed in future financial years.</p> |