Vandan Foods Limited has fulfilled its regulatory compliance obligations by submitting the mandatory certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made to BSE Limited on April 10, 2026, as part of the company's ongoing regulatory requirements.

Regulatory Compliance Details

The certificate was submitted under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the quarter and year ended March 31, 2026. The document was issued by the company's appointed Registrar and Share Transfer Agent, Bigshare Services Private Limited.

Certificate Status and Applicability

Bigshare Services Private Limited confirmed that Regulation 74(5) is not applicable to Vandan Foods Limited for the quarter ended March 31, 2026. The non-applicability stems from the fact that the entire shareholding of the company is held in demat form. Additionally, the registrar confirmed that no requests were received from any members for rematerialisation or dematerialisation during the quarter period from December 31, 2025 to March 31, 2026.

Corporate Governance Framework

The submission was authorized by Jitendra Rameshbhai Patel, Managing Director of Vandan Foods Limited (DIN: 08205811), who digitally signed the compliance document on April 10, 2026. This demonstrates the company's commitment to maintaining proper corporate governance standards and timely regulatory compliance.

Registrar Services

Bigshare Services Private Limited, operating from Ahmedabad, Gujarat, serves as the SEBI registered Category I Registrar and Transfer Agent for the company. The firm confirmed the non-applicability status in accordance with SEBI circulars and regulatory guidelines issued in January 2019, ensuring proper compliance documentation for the quarter ended March 31, 2026.

Vandan Foods Limited has filed its monitoring agency report for the quarter ended December 31, 2025, with BSE Limited under Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was submitted on March 31, 2026, by Chairman and Non-Executive Director Jitendra Rameshbhai Patel.

IPO Proceeds Utilization Overview

The monitoring agency report, prepared by Infomerics Valuation and Rating Limited, covers the utilization of proceeds from the company's Initial Public Offering (IPO) that raised Rs. 30.36 crore. During Q3FY26, the company utilized Rs. 0.38 crore towards the objects of the issue and issue-related expenses.

IPO Details and Timeline

Vandan Foods conducted its public issue during June 30, 2025, to July 02, 2025, issuing 26,40,000 equity shares at Rs. 115.00 per share (including premium of Rs. 105.00). The company operates in the castor oil manufacturing sector, focusing on Refined F.S.G. Castor Oil and Castor De Oil Cake on a B2B business model.

Object-wise Fund Utilization Status

The monitoring agency confirmed that all utilizations were as per the disclosure in the offer document with no deviations observed:

Quarterly Fund Movements

During Q3FY26, the company transferred Rs. 0.38 crore from its Public Issue Account with Kotak Mahindra Bank to its current account on October 04, 2025, and November 21, 2025. The funds were utilized for loan repayments (Rs. 0.18 crore) and issue-related expenses (Rs. 0.20 crore).

Compliance and Monitoring

As an SME listed company, Vandan Foods is voluntarily complying with the monitoring requirements. The monitoring agency, led by Associate Director Mithun Vyas, declared no conflicts of interest and confirmed the report provides a true and fair view of issue proceeds utilization. The company's statutory auditors, M/s. Piyush Kothari & Associates, certified no deviations from expenditure as per applicable objects in their certificate dated February 10, 2026.

The remaining unutilized balance of Rs. 0.10 crore is maintained in the Public Issue Account with Kotak Mahindra Bank, comprising Rs. 0.08 crore for issue objects and Rs. 0.02 crore for issue-related expenses.