Regulatory27 May 2026, 06:01 pm
Shipwaves Online IPO: ₹5.03 Cr Unutilized as of March 2026
AI Summary
Shipwaves Online Ltd's Monitoring Agency Report for the period ended March 31, 2026, reveals that ₹5.03 crore from the IPO proceeds remains unutilized. The report, issued by CARE Ratings Limited, indicates that the Red Herring Prospectus stipulated a timeline for implementation of objects of the issue as March 31, 2026. The monitoring agency has not received any board approval for the extension of timeline. The report declares an objective view of the utilization of issue proceeds based on information provided by the issuer.
Key Highlights
- Shipwaves Online Ltd's IPO monitoring report reveals ₹5.03 crore unutilized as of March 31, 2026.
- CARE Ratings Limited issued the monitoring agency report dated May 15, 2026.
- The Red Herring Prospectus set the IPO object implementation timeline as March 31, 2026.
- No board approval has been received for extending the IPO object implementation timeline.
- The report confirms no conflict of interest in monitoring the utilization of issue proceeds.
Price Impact
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