Bhavik enterprises Limited has submitted its quarterly compliance certificate for Q4FY26 under SEBI (Depositories and Participants) Regulations, 2018. The Mumbai-based company filed the mandatory certificate with BSE Limited on April 9th, 2026, covering the quarter ended March 31st, 2026.

Compliance Certificate Details

The compliance certificate was issued by Bigshare Services Pvt. Ltd., which serves as the company's Registrar and Share Transfer Agent (RTA). The certificate pertains to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Status

Bigshare Services Pvt. Ltd. confirmed in the certificate that Regulation 74(5) is not applicable to Bhavik Enterprises Limited. The RTA stated that the entire holding of the company's shares are in demat form, and no requests for rematerialisation were received from any members during the quarter ended March 31st, 2026.

Filing Process

Company Secretary and Compliance Officer Nikhil Bhatt, holding membership number A22219, submitted the certificate to BSE Limited. The submission was addressed to the Manager of the Listing Department at BSE's Phiroze Jeejeebhoy Towers in Mumbai.

Company Information

Bhavik Enterprises Limited is an ISO 9001:2015 certified company with its registered office located at 1105, DLH Park, S.V. Road, Goregaon (W), Mumbai. The company maintains its listing on BSE Limited under the symbol BHAVIK with scrip code 544551.

Bhavik Enterprises Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, to BSE Limited under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 262(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Regulatory Compliance and Submission

The submission was made on February 13, 2026, by Company Secretary and Compliance Officer Nikhil Bhatt. The monitoring agency report was issued by Infomerics Valuation and Rating Limited, covering the utilization of proceeds from the company's initial public offering (IPO) worth ₹63.00 crore.

IPO Proceeds Utilization Summary

According to the monitoring agency report dated February 12, 2026, the company has made significant progress in utilizing IPO funds during Q3FY26. The report confirms no deviation from the stated objects of the issue.

Fund Deployment and Management

The company utilized ₹27.95 crore during Q3FY26 primarily for payments to Borouge Pte Ltd for purchase of goods, as Bhavik Enterprises Limited serves as the authorized distributor of the company. The monitoring agency confirmed that the utilization is in accordance with the stated objects and purposes disclosed in the offer document.

The unutilized funds amounting to ₹26.65 crore are deployed in fixed deposits with Bank of Baroda across four different instruments with varying maturity dates and interest rates ranging from 5.75% to 6.60%.

Previous Fund Utilization Certificate

Earlier, the company had submitted a statutory auditor certificate on February 13, 2026, regarding fund utilization as working capital under SEBI Regulation 262(6). The auditor's certificate dated January 22, 2026, prepared by M Parashar & Co., showed utilization of ₹2,794.57 lakhs out of ₹5,460.18 lakhs raised for working capital and general corporate purposes.

Monitoring Agency Certification

Infomerics Valuation and Rating Limited, serving as the monitoring agency, declared no deviation from the objects of the issue and confirmed that the report provides a true and fair view of the utilization of issue proceeds. The agency verified details through bank statements, CA certificates, and ledgers maintained by the company.

Company Information

Bhavik Enterprises Limited is an ISO 9001:2015 certified company engaged in trading of polymers, primarily Polyethylene (PE) and Polypropylene (PP). The company trades on BSE with symbol BHAVIK, ISIN INE18PB01017, and scrip code 544551, with its registered office at 1105, DLH Park, S.V. Road, Goregaon (W), Mumbai - 400062.