Ideaforge Technology Limited — Others, 22-07-2025: Monitoring Agency Report

ideaForge Technology has released its Monitoring Agency Report on the utilization of IPO proceeds. The company confirmed that there is no deviation from the stated objects, ensuring transparency for shareholders. Out of the 225.16 Cr net proceeds, funds were fully utilized for repayment of indebtedness, funding working capital, and investment in product development. While some initial deployment for working capital and product development saw a three-month adjustment from original estimates, all funds are now fully deployed as planned. This report assures investors that capital raised through the IPO is being used effectively for the company's growth objectives.