Globe Civil Projects IPO Proceeds Utilization Report by CARE Ratings
Globe Civil Projects Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by CARE Ratings Limited. The report confirms that all proceeds from the IPO, aggregating to ₹119.00 crore, have been utilized as per the objectives stated in the offer document. During the quarter, unutilized funds were transferred to current accounts and fixed deposits. While there was a commingling of funds due to subsequent transactions, management and CA certificates confirmed adherence to the IPO's utilization plan. The company also made the report available on its website.
Key Highlights
- IPO proceeds of ₹119.00 crore fully utilized as per offer document.
- CARE Ratings confirms no deviation in IPO fund utilization.
- Funds transferred to current accounts and fixed deposits in Q2FY26.
- Commingling of funds noted, reliance on management certificates.
- Report submitted as per SEBI Listing Regulations.
Price Impact
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