Western Overseas Study Abroad Confirms No Deviation in IPO Proceeds Use

Western Overseas Study Abroad Ltd has confirmed that there was no deviation or variation in the utilization of proceeds from its Initial Public Offer (IPO) for the quarter ended June 30, 2026. The company's Audit Committee and Board of Directors reviewed and approved the statement. The utilization of funds, amounting to ₹1,62,07,876.51 during the quarter, was in line with the objects stated in the Offer Document, including expenses for ERP software, advertisement, and general corporate purposes. The unutilized balance of IPO proceeds as of June 30, 2026, stands at ₹3,15,24,877.24 and is parked in specified bank accounts. An amount of ₹11.39 lakhs towards GST on certain payments was inadvertently funded from IPO proceeds in the previous quarter and has since been reimbursed from internal accruals.