Indogulf Cropsciences Limited has filed its Third Monitoring Agency Report and Statement of Deviation or Variation for the quarter and year ended March 31, 2026, with BSE Limited and National Stock Exchange of India Limited. The filing, dated May 12, 2026, was made pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The monitoring report was prepared by Brickwork Ratings India Private Limited, and confirms no deviation or variation in the utilisation of IPO proceeds.

IPO Issue Details

The company raised funds through a Fresh Issue and Offer for Sale of Equity Shares, with allotment completed on July 1, 2025. The issue was open for anchor investors from June 25, 2025 to June 30, 2025, and for other investors from June 25, 2025 to June 26, 2025. The following table summarises the issue details:

The total number of equity shares issued aggregated to 1,80,77,476, comprising 1,44,73,873 shares under the Fresh Issue and 36,03,603 shares under the Offer for Sale. The amount received matched the value as per the Offer Document in both categories.

Fund Utilisation Progress as at March 31, 2026

Brickwork Ratings confirmed that all utilisation is as per the disclosures in the Offer Document, with no material deviation observed. The following table details the progress in utilisation of IPO proceeds across each object:

The above details were verified by M/s Devesh Parekh & Co., Chartered Accountants, vide CA certificate dated May 11, 2026, and company statement dated May 11, 2026. It is noted that out of ₹15.38 Crore utilised towards issue expenses for the quarter ended September 30, 2025, the company took reimbursement of ₹2.40 Crore towards issue-related expenses incurred prior to the date of issue.

Deployment of Unutilised Proceeds

Unutilised IPO proceeds have been deployed across bank accounts and financial instruments as at the end of the quarter. The deployment details are as follows:

Implementation Status and Deviation Statement

The monitoring report confirms that no delay has been observed in the implementation of objects relative to the timelines stated in the Offer Document. Working capital funding has been completed, while repayment of borrowings, capital expenditure for the dry flowable (DF) plant at Barwasni, general corporate purposes, and issue expenses remain ongoing, all within the target of Financial Year 2025-26 as per the Offer Document.

The Statement of Deviation or Variation, filed alongside the monitoring report, confirms that there is no deviation or variation in the use of funds raised. The Audit Committee and auditors have raised no comments. General corporate purpose utilisation during the quarter stood at ₹2.25 Crore as on March 31, 2026, directed towards strategic initiatives, marketing and brand building, and general corporate exigencies, among other board-approved purposes. The report was signed by Sakshi Jain, Company Secretary and Compliance Officer, and is available on the company's website at www.groupindogulf.com .

Indogulf cropsciences Limited has filed a compliance certificate with stock exchanges confirming non-applicability of SEBI Regulation 74(5) for the quarter ended March 31, 2026. The certificate demonstrates the company's adherence to regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

Company Secretary Sakshi Jain submitted the certificate to both BSE Limited and National Stock Exchange of India Limited on April 9, 2026. The filing includes confirmation from the company's registrar and transfer agent, Bigshare Services Pvt Ltd, regarding compliance status for the specified quarter.

Certificate Confirmation

Bigshare Services Pvt Ltd, serving as the company's registrar and transfer agent, issued the certificate on April 4, 2026. The certificate confirms that SEBI Regulation 74(5) requirements are not applicable to Indogulf Cropsciences Limited for the quarter ended March 31, 2026.

The registrar confirmed two key factors supporting non-applicability:

• Entire shareholding of the company remains in demat form
• No requests received from shareholders for rematerialization or dematerialization during the quarter

Regulatory Framework

SEBI Regulation 74(5) under the SEBI (Depositories and Participants) Regulations, 2018 replaced the earlier Regulation 54 of SEBI (Depository and Participant) Regulations, 1996. The regulation governs compliance requirements for companies regarding share dematerialization and rematerialization processes.

Corporate Details

The company operates from its registered address at 501, Gopal Heights, Plot No-D-9, Netaji Subhash Place, Delhi-110034. Sakshi Jain serves as Company Secretary and Compliance Officer with membership number A67325, ensuring regulatory compliance and corporate governance standards.

Bigshare Services Pvt Ltd maintains its registered office at Office No.: S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Rd, Andheri East, Mumbai – 400 093, with SEBI registration number INR000001385.