Luxury Time Limited has filed its first monitoring agency report with BSE Limited for the quarter ended December 31, 2025, marking a key regulatory milestone following its recent Initial Public Offer. The comprehensive report, prepared by Brickwork Ratings India Private Limited, provides detailed insights into the utilization of IPO proceeds and compliance with stated objectives.

IPO Details and Fund Utilization

The company's IPO raised ₹18.73 crore through a combination of fresh issue and offer for sale. The issue structure comprised 1,828,800 equity shares under fresh issue and 456,000 shares under offer for sale, both priced at ₹82 per share.

The IPO was conducted from December 03, 2025 for anchor investors and December 04-08, 2025 for other investors.

Fund Deployment Progress

During the quarter ended December 31, 2025, the company utilized ₹1.68 crore specifically for issue expenses. The monitoring agency report shows the following utilization status across stated objectives:

The company incurred total issue expenses of ₹2.10 crore during the quarter, shared between the company and promoter selling shareholders on a pro-rata basis. The company's share amounted to ₹1.68 crore, while the promoter selling shareholders' portion was approximately ₹0.42 crore.

Investment of Unutilized Proceeds

The company has strategically deployed its unutilized IPO proceeds in fixed deposits with Kotak Mahindra Bank. A total of ₹12.00 crore has been invested across 12 fixed deposits, each worth ₹1.00 crore, earning returns of 6.7% per annum. These deposits have varying maturity dates ranging from February 2027 to December 2027, ensuring liquidity management aligned with planned expenditure timelines.

Additionally, ₹0.245 crore remains in the monitoring account with Kotak Mahindra Bank for operational requirements.

Compliance and Monitoring Framework

The monitoring agency confirmed several key compliance aspects:

• No deviations observed from objects stated in the offer document
• All government and statutory approvals related to stated objects have been obtained
• No unfavorable events affecting the viability of stated objects
• Utilization remains in line with disclosures made in the offer document

Implementation Timeline

The company's stated objects are progressing as per the timeline disclosed in the offer document. Capital expenditure for setting up four new retail outlets and funding working capital requirements are scheduled for completion by Financial Year 2026-27, while general corporate purposes are targeted for Financial Year 2025-26. The monitoring agency reported no delays in implementation.

Corporate Structure

Luxury Time Limited, formerly Luxury Time Private Limited, operates in the luxury watches sector under the leadership of promoters Mr. Ashok Goel and Mr. Pawan Chohan. The company is headquartered at Pearls Omaxe Building, Tower-2, Netaji Subhash Place, New Delhi, and maintains its registered office at the same location.

The monitoring agency report was reviewed by the company's Audit Committee and approved by the Board of Directors at their meeting held on February 12, 2026, demonstrating robust corporate governance practices in the post-IPO phase.

Luxury Time Limited announced the outcomes of its board meeting held on January 5, 2026, where directors approved several key appointments and authorizations under Regulation 30 of SEBI Listing Regulations. The meeting, which commenced at 10:30 AM and concluded at 10:53 AM, addressed critical governance and compliance matters for the company.

Key Board Decisions

The board approved three significant resolutions during the meeting:

Secretarial Auditor Profile

Nilesh A. Pradhan & Co., LLP brings substantial experience to the role. The firm was originally established in 2001 as a proprietorship and has been operating as a Limited Liability Partnership since December 2018. Based in Mumbai, it operates as a well-established firm of Practicing Company Secretaries.

The firm holds peer-review certification from the Institute of Company Secretaries of India (PR No: 1908/2022) and maintains a robust organizational structure. It operates with a strong internal team comprising Company Secretaries, trainees, and employees, supported by a pan-India association with CS firms.

Previous Appointment Timeline

The board had initially approved Nilesh A. Pradhan & Co., LLP's appointment as Secretarial Auditors during its meeting held on May 22, 2025, for the financial year 2025-26. The current board meeting formalized the re-appointment for the same term.

Management Authorization

The board granted comprehensive signing authority to two key executives for regulatory compliance. Managing Director Ashok Goel and Whole-Time Director Pawan Chouhan received authorization to make all necessary disclosures to BSE Limited, streamlining the company's regulatory communication process.

Compliance Framework

The appointments align with Luxury Time Limited's commitment to maintaining robust governance standards. The company operates from its registered office at Pearls Omaxe Building, Tower-2, Netaji Subhash Place, New Delhi, and continues to strengthen its compliance infrastructure through these strategic appointments.