Nippon Life India Asset Management Limited — Others, 28-07-2025: Monitoring Agency Report

Nippon Life India Asset Management (NAM-INDIA) has released its IPO proceeds utilization report. The company confirms no deviation from the original objectives stated in its offer document. Out of the total fresh issue proceeds of Rs. 588.85 Cr, Rs. 397.84 Cr has been utilized as planned for various purposes including IT upgrades, advertising, and investments in AIF and mutual fund schemes. The remaining Rs. 191.00 Cr is held in fixed deposits with HDFC Bank, earning interest. This update provides transparency to shareholders, assuring that IPO funds are being managed and deployed according to the company's stated plans.