Monitoring Agency report: no deviation from IPO objects in September 2026 quarter
Crisil Ratings has issued its Monitoring Agency Report for the quarter ended September 30, 2026, on how the company used the money raised in its IPO.
By ScoutQuest · · 1 min read
- Issue size
- Rs 1,060.00 crore
- Issue expenses
- 44.02 (Rs. crore)
- Net proceeds
- 1,015.98 (Rs. crore)
What this update is
Billionbrains Garage Ventures Limited has enclosed a Monitoring Agency Report issued by Crisil Ratings Limited for the quarter ended September 30, 2026. The report relates to the utilisation and application of the funds raised through the company's Initial Public Offer (IPO). A monitoring agency is an independent agency appointed to track how a company uses the money raised from the public.
What the report says on deviation
- Deviation from the objects: Not applicable
- Range of Deviation: Not applicable
Issue details
- Type of issue: Initial Public Offer (IPO)
- Type of specified securities: Equity Shares
- Issue period: November 04, 2025 to November 07, 2025
- Industry/sector: Stockbroking & Allied
- IPO grading: NA
Money raised
- Issue size: Rs 1,060.00 crore
- Gross proceeds: 1,060.00 (Rs. crore)
- Less: Issue expenses: 44.02 (Rs. crore)
- Net proceeds: 1,015.98 (Rs. crore)
- Crisil Ratings shall be monitoring the gross proceeds.
How to read this
The report is a quarterly update from the monitoring agency on how the IPO money is being applied against the stated objects of the issue. For this quarter, it records no deviation from those objects.
Crisil's declaration states that the report provides an objective view of the utilisation of the issue proceeds based on information provided by the issuer and sources it believes to be accurate and reliable. It also states that the monitoring agency does not perform an audit and undertakes no independent verification of the information, certifications or statements it receives.
In simple terms, the update is an update on the status of use of IPO proceeds, with the issuer's management and audit committee comments captured separately in the report.
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More numbers
- Issue sizeRs 1,060.00 crore
- Gross proceeds1,060.00
- Less: Issue Expenses44.02
- Net Proceeds1,015.98
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