News Earnings Ganesh Consumer Products Utilizes Rs.68.35 Crore of IPO Proceeds in Q3FY26, Reports No DeviationsGanesh Consumer Products Utilizes Rs.68.35 Crore of IPO Proceeds in Q3FY26, Reports No Deviations
Ganesh Consumer Products Limited utilized Rs.68.35 crore of its Rs.130 crore IPO proceeds in Q3FY26, with Rs.60.00 crore for loan repayment, Rs.2.46 crore for capex, and Rs.5.89 crore for issue expenses. CARE Ratings found no deviations from disclosed objectives, while Rs.61.65 crore remains deployed in fixed deposits earning 5.80%-7.10% returns.
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Ganesh Consumer Products Limited has filed its quarterly monitoring agency report with stock exchanges, detailing the utilization of proceeds from its Rs.130 crore Initial Public Offering during the quarter ended December 31, 2025. The report, prepared by CARE Ratings Limited as the monitoring agency, confirms compliance with regulatory requirements under SEBI LODR 2015.
IPO Proceeds Utilization Overview
During Q3FY26, the company utilized Rs.68.35 crore of the total Rs.130 crore raised through its IPO, leaving Rs.61.65 crore unutilized. The monitoring agency reported no deviations from the objects disclosed in the offer document, indicating proper adherence to the stated fund utilization plan.
| Utilization Category | Amount Utilized (Rs. Crore) | Total Allocation (Rs. Crore) | Remaining (Rs. Crore) |
|---|---|---|---|
| Loan Repayment | 60.00 | 60.00 | 0.00 |
| Capital Expenditure | 2.46 | 45.00 | 42.54 |
| Issue Expenses | 5.89 | 10.80 | 4.91 |
| General Corporate Purposes | 0.00 | 14.20 | 14.20 |
| Total | 68.35 | 130.00 | 61.65 |
Key Fund Deployment Activities
The company successfully completed its primary objective of loan repayment, utilizing the entire allocated Rs.60.00 crore to repay working capital credit line loans. This included Rs.30.00 crore each to Yes Bank and Axis Bank, as specified in the IPO prospectus.
For capital expenditure, Rs.2.46 crore was deployed toward setting up the roasted gram flour and gram flour manufacturing unit in Darjeeling, West Bengal. The funds were used for purchasing equipment as per the project timeline, with Rs.42.54 crore remaining for future capex requirements.
Unutilized Funds Management
The company has strategically deployed the unutilized Rs.61.65 crore across various financial instruments to optimize returns while maintaining liquidity:
| Investment Type | Amount (Rs. Crore) | Return Rate (%) | Maturity |
|---|---|---|---|
| AU Small Finance Bank FDs | 50.00 | 6.35-7.10 | April-October 2026 |
| Axis Bank FD | 5.19 | 5.80 | January 2026 |
| Bank Balances | 6.46 | - | - |
Compliance and Timeline Status
CARE Ratings confirmed that the loan repayment objective was completed ahead of schedule on October 30, 2025, against the target date of March 31, 2026. The capital expenditure project remains on track with a completion timeline of March 31, 2027. No funds were utilized for general corporate purposes during the quarter, maintaining the full Rs.14.20 crore allocation for future requirements.
IPO Details and Regulatory Framework
The company's IPO was conducted from September 22-24, 2025, issuing 40,39,687 equity shares compared to the proposed 40,40,457 shares. The slight reduction of 770 shares resulted in a value difference of Rs.260 from the original proposal. The monitoring is conducted under Regulation 32(6) of SEBI LODR 2015, ensuring transparent reporting of fund utilization to investors and regulatory authorities.
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