Stanbik Agro Limited Receives Clean Monitoring Agency Report for Q3 FY26 IPO Funds
Stanbik Agro Limited has received a clean monitoring agency report from Brickwork Ratings India Private Limited for Q3 FY26, confirming no deviations in the utilization of ₹12.28 crore raised through its SME IPO. The report shows minimal fund deployment of ₹0.46 crore with ₹11.82 crore remaining unutilized across objectives including working capital, retail network expansion, and general corporate purposes.
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Stanbik Agro Limited has received a clean monitoring agency report from Brickwork Ratings India Private Limited for the quarter ended December 31, 2025, confirming no deviations in the utilization of funds raised through its Initial Public Offering (IPO). The report was submitted under Regulation 32(6) of SEBI (LODR) Regulations, 2015.
IPO Fund Raising and Monitoring Details
The company successfully raised funds through a public issue on the SME platform with comprehensive monitoring arrangements in place:
| Parameter: | Details |
|---|---|
| Mode of Fund Raising: | Fresh Issue of Equity Shares (SME) |
| Issue Period: | December 12, 2025 - December 16, 2025 |
| Date of Fund Raising: | December 19, 2025 |
| Amount Raised: | ₹12.28 crore |
| Number of Shares: | 40,94,000 equity shares |
| Issue Price: | ₹30 per share |
| Monitoring Agency: | Brickwork Ratings India Private Limited |
| Report Period: | Quarter ended December 31, 2025 |
Fund Utilization Status
The monitoring agency report confirms minimal fund utilization during the quarter with no deviations from the original objects. The overall deployment remains at early stages with most funds still available for their intended purposes:
| Fund Utilization Summary: | Amount (₹ Crore) |
|---|---|
| Total Amount Raised: | 12.28 |
| Total Funds Utilized: | 0.46 |
| Total Funds Unutilized: | 11.82 |
| Deviation/Variation: | Nil |
| Range of Deviation: | Not applicable |
Object-wise Fund Allocation
The IPO proceeds were allocated across multiple business objectives with specific amounts earmarked for each purpose:
| Objective: | Original Allocation (₹ Crore) | Utilized (₹ Crore) | Unutilized (₹ Crore) |
|---|---|---|---|
| Working Capital Requirement: | 6.39 | 0.37 | 6.02 |
| Retail Network Expansion: | 3.58 | 0.00 | 3.58 |
| Security Deposits: | 0.37 | 0.00 | 0.37 |
| General Corporate Purpose: | 1.20 | 0.05 | 1.15 |
| Issue Expenses: | 0.55 | 0.04 | 0.51 |
| Brokerage Charges: | 0.19 | 0.00 | 0.19 |
Regulatory Compliance and Monitoring
Brickwork Ratings India Private Limited, appointed as the monitoring agency through an engagement letter dated November 7, 2025, has confirmed full regulatory compliance. The monitoring agency report states that there are no deviations from the objects for which funds were raised and no material variations in fund deployment.
The unutilized proceeds totaling ₹11.82 crore are currently deployed in designated bank accounts, with ₹10.28 crore in the Public Issue Account and ₹1.54 crore in the Monitoring Account. The company has maintained transparency in fund utilization reporting to stakeholders and regulatory authorities.
Stanbik Agro Limited, headquartered in Ahmedabad, Gujarat, operates in the agricultural sector. The company's Managing Director, Ashokbhai Dhanajibhai Prajapati, has signed off on the compliance documentation, ensuring adherence to SEBI regulations for IPO fund monitoring and disclosure requirements.
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