Nisus Finance Services Co Ltd reported the complete utilisation of ₹101.62 crore in fresh-issue proceeds from its Initial Public Offering as of March 31, 2026. The disclosure was made during the company's 13th Annual General Meeting held on September 24, 2026, where shareholders adopted the audited financial statements for FY26.

The Chairman presented a detailed breakdown of how the capital was deployed across various strategic objectives. While the total amount matched the prospectus allocation, the distribution across specific objects showed variances that were adjusted within permissible limits. The company clarified that the ₹12.61 crore offer-for-sale component accrued to selling shareholders and remained outside the company's control.

IPO Proceeds Utilisation Breakdown

The Monitoring Agency Report confirmed that all funds were deployed by the end of FY26. The table below outlines the object-wise utilisation against the amounts specified in the prospectus:

Reconciliation of Deployment Mix

A supplementary reconciliation revealed shifts in deployment between geographic locations within the first two broad objects. For instance, actual spending on fund raising in DIFC and GIFT City exceeded the indicative split by ₹13.77 crore, while spending in India fell short by ₹13.28 crore. Similarly, infrastructure setup costs in Mauritius were lower than projected, while GIFT City and DIFC saw higher outlays.

What the Numbers Show

The data indicates a strategic reallocation of capital towards international markets rather than domestic operations for fund-raising activities. Specifically, the ₹13.77 crore surplus spent on DIFC and GIFT City fund-raising was offset by a ₹13.28 crore underspend in India. This suggests the company prioritised global distribution channels over domestic ones during the deployment phase, despite the initial prospectus indicating a more balanced geographic split. Additionally, issue expenses exceeded estimates by ₹0.51 crore, which was absorbed by reducing the general corporate purposes allocation.

Corporate Governance Updates

During the meeting, shareholders approved several key resolutions:

• Re-appointment of Amit Anil Goenka as Chairman and Managing Director.
• Appointment of YMS & Co LLP as Statutory Auditors for FY27 to FY31.
• Approval of material related party transactions involving subsidiaries and associates.
• Authorization to make investments and provide securities in excess of limits under Section 186 of the Companies Act, 2013.

The Statutory Auditors' Report for FY26 contained no qualifications or adverse remarks. However, the Secretarial Audit Report noted certain observations regarding compliance, which the Board stated are being addressed through corrective measures.

Nisus Finance has scheduled its 13th Annual General Meeting (AGM) for Thursday, September 24, 2026. The meeting will be held at 11:00 am through Video Conferencing or Other Audio-Visual Means, in compliance with Ministry of Corporate Affairs and SEBI regulations.

The notice for the AGM, along with the Annual Report for the financial year ended March 31, 2026, was dispatched electronically on September 1, 2026. Documents are available on the company’s website, the BSE SME platform, and the Registrar and Share Transfer Agent’s portal.

E-Voting and Book Closure Details

The register of members and share transfer books will remain closed from September 17, 2026, to September 24, 2026, inclusive. This period determines eligibility for voting rights.

Remote e-voting will commence on Monday, September 21, 2026, at 9:00 am and conclude on Wednesday, September 23, 2026, at 5:00 pm. Members who have not cast their votes remotely can vote during the AGM via the e-voting system.

Members holding shares in dematerialized form are advised to update their email addresses and bank account details with their Depository Participants. Physical attendance is dispensed with, and proxy appointments are not available for this virtual meeting.