Auditor's certificate on IPO proceeds: Rs. 10.57 crore unutilised, nil used in the quarter
Kiaasa Retail has shared its statutory auditor's certificate on the use of IPO proceeds for the quarter ended 30 September 2026.
By ScoutQuest · · 2 min read
- Total IPO proceeds
- Rs. 69.74 crore
- Unutilised amount
- Rs. 10.57 crore (all for opening new stores)
- Used during the quarter
- Rs. 0.00 crore
Quarterly IPO-proceeds certificate
Kiaasa Retail has submitted to BSE the certificate from its statutory auditor, Dharam Taneja Associates, Chartered Accountants, on the use of the money raised in its Initial Public Offering (IPO) for the quarter ended 30 September 2026.
How the IPO money was earmarked
- Expenditure for opening new stores: Rs. 46.46 crore
- Unidentified acquisition and general corporate purposes: Rs. 10.00 crore
- IPO issue expenses: Rs. 13.28 crore
- Total amount as per the IPO objects: Rs. 69.74 crore
What was used during the quarter
The certificate shows the amount utilised during the quarter as Rs. 0.00 crore under each of the three heads, and therefore Rs. 0.00 crore in total.
The position at the end of the quarter
- Total amount unutilised: Rs. 10.57 crore
- Of this, the entire Rs. 10.57 crore sits under the expenditure-for-new-stores head
- The unidentified acquisition and general corporate purposes head shows Rs. 0.00 crore unutilised
- The IPO issue expenses head shows Rs. 0.00 crore unutilised
The same Rs. 10.57 crore figure appears in the certificate's opening column for the new-stores head, so the unutilised balance on that head is unchanged over the quarter.
Reading it simply
Out of every Rs. 100 of IPO money, about Rs. 85 has been spent or allocated as per the stated objects, and about Rs. 15 is still sitting unutilised, waiting to be spent on opening new stores. Nothing moved out of the unutilised pool during this quarter.
Why such a certificate exists
Companies that raise money through an IPO undertake to the stock exchange that they will report, quarter after quarter, how the proceeds are being used. The statutory auditor checks the accounting records and certifies the numbers, and the company files that certificate with the exchange.
What a retail investor can take away
- This is a fund-utilisation status report, not a sales, profit or order update.
- The key thing to watch over coming quarters is the pace at which the Rs. 10.57 crore meant for new stores gets spent.
- Money lying unutilised is not a loss by itself; it simply means the planned store openings for that amount are yet to happen.
Also from Kiaasa Retail
Kiaasa Retail launches no-discount premium ethnic wear brand Virasat during Navratri
21 Oct 2026
Six new exclusive stores announced across Uttar Pradesh, Rajasthan and Bihar ahead of festive season
8 Oct 2026
Opens 6 new retail stores across North India ahead of festive season
1 Oct 2026
More numbers
- Total amount as per IPO object69.74 (Rs. In Crores)
- Total amount unutilised during the quarter10.57 (Rs. In Crores)
- Total amount utilised during the quarter0.00 (Rs. In Crores)
- IPO object: expenditure for opening new stores46.46 (Rs. In Crores)
- IPO object: unidentified acquisition and general corporate purposes10.00 (Rs. In Crores)
- IPO object: IPO issue expenses13.28 (Rs. In Crores)
- Unutilised under new stores at quarter end10.57 (Rs. In Crores)
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