Quarterly Updates21 May 2026, 05:51 pm
Western Overseas: ₹2.37 Cr Utilized from IPO Proceeds in Q4 FY26
AI Summary
Western Overseas Study Abroad Ltd reports that ₹2.37 Cr was utilized from IPO proceeds during the quarter ended March 31, 2026. The utilization is in line with the objects stated in the Offer Document. The unutilized balance as of March 31, 2026, is ₹4.65 Cr, parked in ICICI Bank accounts. An amount of ₹11.39 lakhs towards GST on advertisement expenses was inadvertently funded from IPO proceeds and will be reimbursed from internal accruals in subsequent quarters.
Key Highlights
- ₹2.37 Cr utilized from IPO proceeds in Q4 FY26, as per regulation 32 of SEBI (LODR) Regulations, 2015.
- Utilization includes brokerage, ERP software, advertisement expenses, GST, and general corporate purposes.
- Unutilized IPO proceeds of ₹4.65 Cr parked in ICICI Bank accounts as of March 31, 2026.
- ₹11.39 lakhs GST on advertisement expenses to be reimbursed to IPO proceeds from internal accruals.
- Monitoring Agency Report confirms utilization of funds for the quarter ended March 31, 2026.
Price Impact
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