Nisus Finance Reports IPO Fund Utilization: Rs. 86.89 Crore Deployed as of September 30, 2025

Nisus Finance Services Co Limited has released its monitoring agency report for the quarter ended September 30, 2025, detailing the utilization of proceeds from its Rs. 101.62 crore Initial Public Offering (IPO). The report, prepared by CARE Ratings Limited, indicates that the company has deployed Rs. 86.89 crore of the total funds raised, with Rs. 14.73 crore remaining unutilized as of the end of the quarter.

Key Highlights of Fund Utilization

Fund Setup and Licensing: Rs. 11.70 crore allocated for augmenting fund setup and licensing in international financial centers, with Rs. 0.76 crore still unutilized.
Fundraising and Distribution: Rs. 21.95 crore used for fundraising costs and distribution fees, leaving Rs. 13.96 crore unused.
Investment in Subsidiary: The full allocation of Rs. 25.00 crore has been invested in Nisus Fincorp Private Limited, a subsidiary NBFC, to augment its capital base.
General Corporate Purposes: Rs. 21.75 crore utilized, with Rs. 0.51 crore remaining.
Issue Expenses: Rs. 6.50 crore spent, exceeding the original allocation by Rs. 0.51 crore.

Implementation Timeline and Deviations

The report notes delays in the implementation timeline for some objectives, with actual deployment extending beyond the original March 31, 2025 target date. The company's board has stated that, as mentioned in the prospectus, any unutilized proceeds will be deployed in subsequent financial years for the same purposes.

Overutilization and Adjustments

There has been an over-utilization of Rs. 0.51 crore in issue expenses, which falls within the 10% allowable deviation limit. The company has adjusted this amount against the allocation for general corporate purposes, as permitted by the terms outlined in the prospectus.

International Expansion

During the quarter, Nisus Finance incurred costs of Rs. 0.09 crore (USD 10,000) for fund setup and licensing in international financial centers. Additionally, the company spent Rs. 5.14 crore (USD 579,148) on fundraising and distribution fees related to international markets.

Unutilized Funds Deployment

The remaining unutilized funds of Rs. 14.73 crore have been primarily invested in fixed deposits with HDFC Bank, earning a 4.75% return, with maturity dates set for October 25, 2025.

Management Commentary

While the monitoring agency report does not include direct quotes from management, the board of directors has confirmed that the company is adhering to the guidelines set forth in the prospectus regarding fund utilization and timeline adjustments.

As Nisus Finance continues to deploy its IPO proceeds, investors will be watching closely to see how these investments translate into growth and expansion for the company, particularly in its international operations and fund management infrastructure.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+9.32%	+6.59%	+5.79%	+9.49%	+52.38%	+52.38%

Nisus Finance promoter Amit Goenka has released the pledge on 47,00,000 equity shares of the company, as disclosed in a recent regulatory filing. This corporate action marks a significant change in the promoter's shareholding structure and warrants attention from investors and market watchers.

Key Details of the Pledge Release

Particulars	Details
Promoter Name	Amit Goenka
Number of Shares Released	47,00,000
Previous Pledge Holder	Catalyst Trusteeship Limited
Date of Release	October 17, 2025
Reason for Release	Part repayment of loan

Impact on Shareholding

The release of pledge has resulted in a notable change in Amit Goenka's encumbered shareholding in Nisus Finance. Here's a breakdown of the current situation:

Particulars	Before Release	After Release
Total Promoter Holding	1,74,92,398 (73.26%)	1,74,92,398 (73.26%)
Shares Pledged	92,00,000 (38.52%)	45,00,000 (18.85%)
Shares Released	-	47,00,000 (19.68%)

Regulatory Compliance

The company has made this disclosure in compliance with the Securities and Exchange Board of India (SEBI) regulations, specifically under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This transparency ensures that all stakeholders are informed about significant changes in the promoter's shareholding pattern.

Other Promoter Group Holdings

Other members of the promoter group, including Abha Anil Goenka, Arti Vikas Modi, Mridula Amit Goenka, Vikas Krishnakumar Modi, and Anil Brijmohan Goenka, each hold 17 shares in the company. None of these shares are currently encumbered.

This development may be of interest to investors and analysts tracking Nisus Finance, as changes in promoter pledges can sometimes indicate shifts in the company's financial position or the promoter's confidence in the business.