Global Ocean Logistics India Limited Reports IPO Fund Utilization for Q3 FY26
Global Ocean Logistics India Limited reported no deviations in IPO fund utilization for Q3 FY26, having used ₹810.93 lakhs out of ₹3041.38 lakhs raised through its IPO completed on December 24, 2025. The company allocated the largest portion (₹2126.85 lakhs) for working capital requirements and has maintained compliance with SEBI regulations.
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Global Ocean Logistics India Limited has filed its mandatory Statement of Deviation(s) or Variation(s) with BSE Limited for the quarter ended December 31, 2025, reporting on the utilization of funds raised through its Initial Public Offer. The company completed its IPO on December 24, 2025, raising ₹3041.38 lakhs, and has reported no deviations in the planned use of these funds.
IPO Fund Utilization Overview
The company has utilized ₹810.93 lakhs out of the total ₹3041.38 lakhs raised, leaving ₹2230.45 lakhs unutilized as of December 31, 2025. The utilization spans across three primary objectives as outlined in the original IPO prospectus.
| Objective | Original Allocation (₹ Lakhs) | Amount Utilized (₹ Lakhs) | Unutilized Amount (₹ Lakhs) | Status |
|---|---|---|---|---|
| Working Capital Requirements | 2126.85 | 306.93 | 1819.92 | Partially utilized |
| General Corporate Purposes | 456.21 | 73.80 | 382.41 | Partially utilized |
| Issue Expenses | 458.32 | 430.20 | 28.12 | Partially utilized |
| Total | 3041.38 | 810.93 | 2230.45 |
Fund Allocation Details
The largest portion of the IPO proceeds, ₹2126.85 lakhs, was allocated for working capital requirements. Of this amount, the company has utilized ₹306.93 lakhs, representing approximately 14.44% of the allocated funds. The relatively low utilization rate is attributed to the recent completion of the IPO and listing process on December 24, 2025.
For general corporate purposes, the company allocated ₹456.21 lakhs and has utilized ₹73.80 lakhs. Issue expenses, which typically include costs related to the IPO process, were allocated ₹458.32 lakhs, with ₹430.20 lakhs already utilized, representing the highest utilization rate among the three categories at approximately 93.86%.
Regulatory Compliance
The statement was prepared in compliance with Regulation 32(1)(a) and (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As required under Regulation 32(3), the statement has been reviewed by both the Audit Committee and Board of Directors of the company.
Charterd Accountants Dharmesh B. Mehta & Co have provided an auditor's certificate confirming the fund utilization details. The certificate was issued specifically for submission to BSE and includes a disclaimer that it should not be used for any other purpose without prior written consent.
Company Information
| Parameter | Details |
|---|---|
| Company Name | Global Ocean Logistics India Limited |
| CIN | L60300MH2021PLC353158 |
| Registered Office | C-101, Business Square, Andheri Kurla Road, Andheri East, Mumbai-400097 |
| BSE Scrip Code | 544665 |
| IPO Completion Date | December 24, 2025 |
| Reporting Quarter | Q3 FY26 (ended December 31, 2025) |
The company's Chairman and Managing Director, Niraj Narsaria (DIN: 07014082), signed the compliance documents submitted to BSE Limited. The statement confirms that there are no deviations or variations in the use of funds from the original objectives outlined in the IPO prospectus, indicating adherence to the planned fund deployment strategy despite the early stage of utilization.
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