IKIO Technologies Limited (formerly IKIO Lighting Limited) has submitted its Monitoring Agency Report for the quarter ended December 31, 2025. This report, issued by CRISIL Ratings Limited, details the utilization of proceeds from the company's Initial Public Offer (IPO). The company confirms that the utilization of IPO proceeds aligns with the objects disclosed in the Offer Document, which included repayment of borrowings and investment in its wholly-owned subsidiary, IKIO Solutions Private Limited, for setting up a new manufacturing facility in Noida, Uttar Pradesh. The total revised net proceeds for monitoring were ₹3,261.41 million. During the quarter ended December 31, 2025, the company utilized ₹163.69 million towards the new facility in Noida, bringing the total utilized amount for this object to ₹1,583.99 million against the proposed ₹2,123.12 million. A total of ₹637.78 million was utilized for General Corporate Purposes (GCP) out of the revised ₹638.29 million. There has been a delay in the implementation of the new facility project, attributed to delays in procuring and operationalizing assets and obtaining necessary approvals. The company expects to utilize the remaining net proceeds by March 31, 2027. The unutilized proceeds amounting to ₹539.64 million as of the quarter-end are invested in fixed deposits with HDFC Bank and other accounts. All required government and statutory approvals for the project have been obtained.
