Innovision Limited Receives Monitoring Agency Report for Quarter Ended March 31, 2026
Innovision Limited received a monitoring report from CRISIL for the quarter ended March 31, 2026, regarding IPO fund utilization. The IPO raised ₹31.92 crore (₹319.25 million), with ₹25.50 crore (₹255 million) in fresh issues. ₹5.10 crore (₹51 million) was used to repay borrowings, and ₹4.40 crore (₹44.019 million) covered issue expenses. Unutilized funds of ₹15.88 crore (₹158.799 million) are in fixed deposits.
The report provides insight into the company's IPO fund utilization, which is relevant for investors and stakeholders, indicating a moderate level of impact.
The announcement is factual and reports on the monitoring of IPO fund utilization, without expressing any positive or negative outlook.
Innovision Limited has received the Monitoring Agency Report from CRISIL Ratings Limited regarding the utilization of funds from its Initial Public Offer (IPO) for the quarter ended March 31, 2026. This report, dated May 12, 2026, is in compliance with Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 and Regulation 41(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Audit Committee reviewed the draft report in its meeting held on May 12, 2026. The IPO, which was open from March 10, 2026, to March 17, 2026, raised ₹31.92 crore (₹319.25 million), including a fresh issue of ₹25.50 crore (₹255 million) and an offer for sale (OFS) of ₹6.43 crore (₹64.252 million).
The net proceeds from the fresh issue amounted to ₹20.98 crore (₹209.799 million) after deducting issue expenses of ₹4.52 crore (₹45.201 million). As of the end of the quarter, ₹5.10 crore (₹51 million) was utilized towards repayment of borrowings, and ₹4.40 crore (₹44.019 million) was used for issue expenses. The unutilized amount stands at ₹15.88 crore (₹158.799 million) for working capital and general corporate purposes. These unutilized funds have been deployed in fixed deposits with Yes Bank and HDFC Bank, and balances are maintained in monitoring and public offer accounts.
The monitoring agency, Crisil Ratings Limited, has declared that the report provides an objective view of the utilization of issue proceeds based on information provided by Innovision Limited. The company confirms that the utilization is as per the disclosures in the Offer Document, with no material deviations observed. The Board of Directors has approved the utilization of funds towards general corporate purposes, including bank charges, in line with the prospectus dated March 17, 2026.
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Innovision Limited filed this with the NSE as a statutory disclosure, categorised under sebi compliance filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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