Regulatory14 Aug 2026, 09:01 pm
Recode Studios IPO Proceeds: ₹0.08 Cr Deviation Noted
AI Summary
Recode Studios Ltd's Monitoring Agency Report for the quarter ended June 30, 2026, reveals a deviation of ₹0.08 crore in the utilization of IPO proceeds. The deviation arose because promoter selling shareholders did not reimburse the company for issue expenses as agreed in the prospectus. The total IPO proceeds amounted to ₹39.55 crore. CARE Ratings Limited, acting as the Monitoring Agency, has reported this deviation, which falls within the acceptable range of up to 10%. The report confirms that the company belongs to the Beauty and Personal Care sector and its IPO was a public issue for SME, which closed on May 7, 2026.
Key Highlights
- IPO proceeds of ₹39.55 crore reviewed for Q2 2026.
- ₹0.08 crore deviation in IPO proceeds utilization noted.
- Deviation due to un-reimbursed promoter selling shareholder expenses.
- Deviation is within the acceptable range of up to 10%.
- Report filed by CARE Ratings Limited as Monitoring Agency.
Price Impact
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