Net Avenue Technologies Limited — Results, 15-07-2025: Reply to Clarification- Financial results

Net Avenue Technologies has clarified the submission of its financial results for the year ended March 31, 2025. The company's statutory auditors have issued an unmodified opinion on both standalone and consolidated financial results.

An independent auditor's certificate details the utilization of Initial Public Offer (IPO) proceeds as of March 31, 2025. Out of the 10.25 Cr IPO proceeds, Net Avenue Technologies has utilized 4.71 Cr, leaving 5.54 Cr unutilized.

Key utilization figures show full deployment for Working Capital Funding (1.20 Cr) and Public Issue Expenses (1.24 Cr). For Customer Acquisition - Marketing & Awareness, only 1.86 Cr out of 6.99 Cr has been utilized, with 5.13 Cr remaining. General Corporate Expenses saw 0.41 Cr utilized out of 0.82 Cr.

The unutilized 5.54 Cr from the IPO is currently deployed as: 0.75 Cr in Fixed Deposits, 0.07 Cr in Current Accounts, and 3.65 Cr invested in Mutual Funds. Additionally, 1.07 Cr is accounted for as an undrawn overdraft facility.

Separately, the company has appointed A K Jain & Associates as Secretarial Auditors for the year ended March 31, 2025.