Patel Retail: Monitoring Agency Report for IPO Proceeds Q2 FY27

Patel Retail Ltd has submitted its Monitoring Agency Report for the Second Quarter and Half year ended September 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of IPO proceeds is in line with the objects of the issue, with no material deviation observed. The total monitored proceeds amount to INR 232.107 crore, comprising INR 15.00 crore from the Pre-IPO placement and INR 217.107 crore from the Gross IPO proceeds. The company noted an increase in offer-related expenses, leading to a revision in the General Corporate Purpose amount. The report is in compliance with SEBI regulations and will be disseminated on the company's website.