Honasa Consumer Ltd: No Deviation in IPO Proceeds Utilization

Honasa Consumer Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, issued by ICRA Limited. The report confirms that the utilization of the Initial Public Offer (IPO) proceeds is in line with the objects of the issue, with no deviation observed. The company's IPO, which opened on October 31, 2023, and closed on November 02, 2023, raised INR 1,701.44 Crore. The net proceeds, after deducting issue-related expenses, amounted to INR 350.492 Crore. ICRA Limited, as the monitoring agency, has verified that the funds have been utilized as per the disclosures in the Offer Document, based on statutory auditor certificates, management confirmations, and bank statements.