DEE Development Engineers Limited — Others, 14-05-2025: Monitoring Agency Report

DEE Development Engineers Limited has announced a board meeting which included review of Crisil Ratings’ monitoring agency report confirming full and appropriate utilization of IPO proceeds totaling Rs 301.95 Cr. Funds were allocated towards working capital (Rs 75 Cr), prepayment/repayment of borrowings (Rs 175 Cr), and general corporate purposes (Rs 51.95 Cr, higher due to lower IPO expenses). Interest income of Rs 0.52 Cr was transferred after quarter-end. The report notes no deviations or delays, reflecting disciplined fund management that supports the company’s operational and financial stability.