Mehul Colours Utilizes ₹13.71 Cr of IPO Proceeds

Mehul Colours Limited has reported the utilization of its Initial Public Offer (IPO) proceeds for the half-year ended September 30, 2026. The company raised ₹2,165.76 Lakhs (₹21.66 Crore) through its IPO. As of September 30, 2026, a total of ₹1,371.05 Lakhs (₹13.71 Crore) has been utilized. The largest portion, ₹680.73 Lakhs (₹6.81 Crore), was allocated to funding capital expenditure for a new manufacturing facility. ₹400.00 Lakhs (₹4.00 Crore) was used for working capital requirements, and ₹9.17 Lakhs (₹0.09 Crore) for general corporate purposes. Issue-related expenses amounted to ₹281.15 Lakhs (₹2.81 Crore). The unutilized amount stands at ₹794.71 Lakhs (₹7.95 Crore), which is temporarily held in a separate bank account. The company has confirmed no deviation or variation in the use of funds as per SEBI regulations.