Patel Chem Specialities IPO Proceeds Report Shows Minor Shortfall

Patel Chem Specialities Ltd has submitted its Monitoring Agency Report for the June 2026 quarter, detailing the utilization of its IPO proceeds. The report, issued by Infomerics Valuation and Rating Limited, indicates a minor deviation of 0.025% of gross proceeds. A Rs 1.45 crore capex utilization in Q1FY27 left Rs 34.79 crore unutilized. However, the unutilized amount parked in fixed deposits and a monitoring account was Rs 34.78 crore, showing a shortfall of Rs 0.015 crore due to an interest penalty on premature FD closure. Management has committed to rectifying this shortfall in Q2FY27. The Monitoring Agency report is qualified to the extent of this shortfall.