Jaykay Enterprises Ltd — Updates, 08-08-2025: Company Update

Regd. Office: Kamla Tower, Kanpur- 208001 (INDIA)

Phones: +91 512 2371478 – 81

E-mail : cs@jaykayenterprises.com, Web : www.jaykayenterprises.com CIN: L55101UP1961PLC001187

August 08, 2025

To

Listing Department

BSE Limited

Phiroze Jeejeebhoy Towers

Dalal Street,

Mumbai - 400 001

Scrip Code: 500306

ISIN: INE903A01025

Sub: Monitoring Agency Report for the quarter ended June 30, 2025

Dear Sir/Madam,

Pursuant to the provisions of Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015 and Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations,

2018, as amended from time to time, please find enclosed herewith the Monitoring Agency Report for the quarter

ended June 30, 2025, issued by M/s. Acuite Ratings & Research Limited, Monitoring Agency, appointed to

monitor the utilization of proceeds of the Rights Issue of the Company.

This disclosure will also be hosted on the Company's website viz. www.jaykayenterprises.com.

Kindly take the same on record.

Thanking you

For Jaykay Enterprises Limited

Shikha Rastogi

Company Secretary & Compliance Officer

Encl: As above

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1

Report Date: August 07, 2025

Name of the issuer : Jaykay Enterprises Limited

For quarter ended : Q1 FY 2025-26

Name of the Monitoring Agency : Acuité Ratings and Research Limited

(a) Deviation from the objects : We have observed that the utilization of the IPO proceeds remains aligned with the objectives stated in the

offer document. However, the utilization has exceeded the amount originally proposed for certain Objects.

(b) Range of Deviation : We have observed deviations up to 10 – 25% in certain objects. The breakup of which is given below.

Object

Original Cost

(INR Cr.)

(A)

Amount utilised

(INR Cr.)

(B)

Deviation

(INR Cr.)

(B-A = C)

Range of

Deviation

(C/A= D)

JK Defence - Other Miscellaneous 5.43 6.87 1.44 26.61%

Issue Expenses 0.82 0.89 0.07 8.05%

Total 6.25 7.76 1.51 24.17%*

* weighted average of deviation

(c) Any other material fact to be highlighted : None

(Based on publicly available information)

Declaration:

We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information

provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes

no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on

the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not

constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be

construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also

do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.

Report of the Monitoring Agency (MA)

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Report Date: August 07, 2025

The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate

compensation for its ratings and certain credit-related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring

and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity.

We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of

the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors

subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been

reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board.

Signature:

Vikas Mishra

Deputy Vice President - Process Excellence

Vikas Y

Mishra

Digitally signed

by Vikas Y Mishra

Date: 2025.08.07

17:39:54 +05'30'

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3

Report Date: August 07, 2025

Name of the issuer : Jaykay Enterprises Limited

Names of the promoter:

Promoters

Mr. Abhishek Singhania

Industry/sector to which it belongs : Aerospace & Defense/ Capital Goods

Issue Period : August 2024

Type of issue : Rights Issue

(Public/Rights/Qualified Institutional Placement)

Type of specified securities : Equity Share

IPO Grading, if any : Not Applicable

Issue size (INR Crore) : INR 146.14 Crores

1. Issuer Details:

2. Issue Details:

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Report Date: August 07, 2025

Particulars Reply from the issuer

Source of

information/ certifications

considered by Monitoring

Agency for preparation of

report

Comments of the Monitoring Agency Comments the Board of Directors

1. Whether all utilization is as per the disclosures

in the Offer Document? Yes

As per the documents

provided by the issuer,

including Independent

Auditors Certificate.

No, We have observed deviations in

certain objects. Please refer to the

comments provided under 'Progress in

the Objects' for Objects 1.D, 3, and 4.

Same has been

noted. This will be

utilised for

unadjusted

amount of GCE

and necessary

approvals will be

taken

2. Whether shareholder approval has been

obtained in case of material deviations from

expenditures disclosed in the Offer

Document?

Not Applicable

As per the documents

provided by the issuer. No material deviation is observed. No Comments

3. Whether the means of finance for the

disclosed objects of the issue has changed? No

As per the documents

provided by the issuer. No change is observed. No Comments

4. Is there any major deviation observed over

the earlier monitoring agency reports? No

As per the documents

provided by the issuer.

The issuer has not appointed any

other Monitoring Agency earlier. No Comments

5. Whether all Government/statutory

approvals related to the object(s) have been

obtained? Not Applicable

As per the documents

provided by the issuer.

No Government / Statutory approval

is required for objects. No Comments

6. Whether all arrangements pertaining to

technical assistance/collaboration are in

operation? Not Applicable

As per the documents

provided by the issuer.

No arrangement pertaining to

technical assistance / collaboration is

required with reference to the object. No Comments

7. Are there any favorable events improving

the viability of these object(s)? Not Applicable

As per the documents

provided by the issuer.

No favorable event is observed that

may improve the viability of these

objects. No Comments

8. Are there any unfavorable events affecting

the viability of the object(s)? Not Applicable

As per the documents

provided by the issuer.

No unfavorable event is observed

affecting the viability of these objects. No Comments

9. Is there any other relevant information that

may materially affect the decision making of

the investors?

No As per the documents provided by the issuer.

No relevant information is evident that

may materially affect the decision

making of the investors.

No Comments

3. Details of the arrangement made to ensure the monitoring of issue proceeds

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5

Report Date: August 07, 2025

i. Cost of object(s)

Sr.

No.

Item

Head

Source of information

/ certifications

considered by

Monitoring Agency for

preparation of report

Original

cost (as per

the Offer

Document)

[INR Crore]

Revised

Cost

Comments of the Monitoring

Agency

Comments of the Board of Directors

Reason of

Cost revision

Proposed

financing

option

Particulars of

firm

arrangement

1 JK Defence

A Purchase of Plant and Machinery

As per the

documents

provided by the

issuer.

15.54 - No change is observed. No Comments No Comments No Comments

B Purchase of Land 14.04 - No change is observed. No Comments No Comments No Comments

C Construction of Building 16.56 - No change is observed. No Comments No Comments No Comments

D

Other Miscellaneous (including but

not limited to pre-liminary regulatory

expenses, staffing, marketing etc.)

5.43

-

No change is observed. No Comments No Comments No Comments

E Repayment of loan taken by JK Defence 33.00 - No change is observed. No Comments No Comments No Comments

Total 84.56 -

2 JK Digital

A Purchase of Plant and Machinery As per the

documents

provided by the

issuer.

36.00 - No change is observed. No Comments No Comments No Comments

B Center of excellence LAB 2.00 - No change is observed. No Comments No Comments No Comments

C Cost 3d Machines and Quality Labs Interior Works 10.00 - No change is observed. No Comments No Comments No Comments

Total 48.00 -

3 General Corporate Expenses As per the documents

provided by the

issuer.

12.77 - No change is observed. No Comments No Comments No Comments

4 Issue Expenses 0.82 - No change is observed. No Comments No Comments No Comments

Grand Total (1+2+3+4) 146.14 -

4. Details of object(s) to be monitored:

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Report Date: August 07, 2025

ii. Progress in the object(s)

Sr.

No. Item Heads

Source of information

/ certifications considered by

the Monitoring Agency for the

preparation of report

Amount

as

proposed

in the

Offer

Documen

t [INR

Crore]

Amoun

t raised

[INR

Crore]

Amount utilsed

[INR Crore] Total

unutilsed

amount

[INR

Crore]

Comments of the

Monitoring Agency

Comments of the Issuer’s Board of

Directors

As at

beginning

of the

quarter

During

the

quarter

At the

end of

the

quarter

Reasons for

idle funds Proposed course of action

1 JK Defence

A Purchase of Plant and Machinery

As per the documents

provided by the issuer,

including Independent

Auditors Certificate*

15.54 15.54 - - - 15.54

The company has

not utilised any

amount towards this

object.

No

Comments No Comments

B Purchase of Land 14.04 14.04 13.87 - 13.87 0.16

The company has

utilsed INR 13.87

Crores for Purchase

of Land.

No

Comments No Comments

C Construction of Building 16.56 16.56 - - - 16.56

The company has

not utilised any

amount towards this

object.

No

Comments No Comments

D

Other Miscellaneous

(including but not

limited to pre-liminary

regulatory expenses,

staffing, marketing etc.)

5.43 5.43 6.78 0.09 6.87 Nil

The company has

over utilised the

amount proposed in

the offer document

by INR 1.44 Crores

and utilsed funds

earmarked for

General Corporate

Purposes to cover

the excess.

No

Comments

Same has been noted.

This will be utilised for

unadjusted amount of

GCE and necessary

approvals will be taken

E Repayment of loan taken by JK Defence 33.00 33.00 33.00 - 33.00 Nil

The company has

fully utilsed INR 33.00

Crores towards this

object.

No

Comments No Comments

Total -1 84.56 84.56 53.66 0.09 53.74 30.81#

2 JK Digital

A Purchase of Plant and Machinery As per the documents provided by the issuer, 36.00 36.00 12.14 7.73 19.87 16.13 The company has utilsed INR 19.87 No Comments No Comments

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Report Date: August 07, 2025

including Independent

Auditors Certificate.

Crores towards this

object.

B Center of excellence LAB 2.00 2.00 - 0.07 0.07 1.93

The company has

utilsed INR 0.07

Crores towards this

object.

No

Comments No Comments

C

Cost 3d Machines and

Quality Labs Interior

Works

10.00 10.00 - - - 10.00

The company has

not utilised any

amount towards this

object.

No

Comments No Comments

Total - 2 48.00 48.00 12.14 7.81 19.94 28.06

3 General Corporate Expenses

As per the documents

provided by the issuer,

including Independent

Auditors Certificate.

12.77 12.77 9.58 1.60 11.17 0.09

The company has

utilsed INR 11.17

Crores towards this

object. This includes

expenses incurred for

Objects 1D and 4

No

Comments No Comments

4 Issue Expenses 0.82 0.82 0.89 - 0.89 Nil

The company has

over utilised the

amount proposed in

the offer document

by INR 0.07 Crores

and utilsed funds

earmarked for

General Corporate

Purposes to cover

the excess.

No

Comments

Same has been noted.

This will be utilised for

unadjusted amount of

GCE and necessary

approvals will be taken

Total (1+2+3+4) 146.14 146.14 76.25 9.49 85.75 60.40**

*Certificate dated August 05, 2025 issued by M/s P L Tandon & Co.(Firm Registration Number: 000186C), as the Statutory Auditors.

**The breakup of the unutilsed amount is as follows:

• INR 52.51 Crores deployed as Fixed Deposit.

• INR 0.08 Crores available in the escrow account of JK Enterprise

• INR 0.26 Crores available in the current account of JK Defence.

• INR 7.56 Crores available in the current account of JK Digital.

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Report Date: August 07, 2025

iii. Deployment of unutilised IPO/FPO/Rights Issue Proceeds:

Sr.

No.

Type of instrument and name of the

entity invested in

Amount invested

(INR Cr) Maturity date

Earning

(INR

Cr)

Return on

Investment (%)

Market Value as at the end

of quarter (INR Cr)

1 Fixed Deposit – SBI 25.00 September 24, 2025 1.49 7.75 26.49

2 Fixed Deposit – SBI 25.00 September 24, 2025 1.49 7.75 26.49

3 Fixed Deposit – SBI 0.01 November 21, 2025 0.00 6.80 0.01

4 Fixed Deposit – SBI (JK Digital) 2.50 August 20, 2025 0.05 5.30 2.55

52.51 3.02 55.53

iv. Delay in implementation of the object(s): Not Applicable

Object(s)

Completion date

Delay

[Number of days or months]

Comments of the Issuer’s Board of Directors

As per the offer document Actual Reason for delay Proposed course of action

- - - - - -

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Report Date: August 07, 2025

Sr.

No. Item Head

Amount

(INR Cr)

Source of information/certifications considered by

Monitoring Agency for preparation of report

Comments of The Monitoring

Agency

Comments of the

Board of Directors

1

General

Corporate

Purpose

12.77 As per the documents provided by the issuer, including Independent Auditors Certificate. The company has utilsed INR 11.77 Crores towards this object. No Comments

Total 12.77

5. Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document

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Report Date: August 07, 2025

Disclaimer:

a) This Report is prepared by Acuité Ratings & Research Limited (hereinafter referred to as “Monitoring Agency/MA”). The MA has taken utmost care to ensure

accuracy and objectivity while developing this Report based on the information provided by the Issuer and information obtained from sources believed by it

to be accurate and reliable. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner

whatsoever.

b) This Report has to be seen in its entirety; the selective review of portions of the Report may lead to inaccurate assessments. For the purpose of this Report, MA

has relied upon the information provided by the management /officials/ consultants of the Issuer and third-party sources like statutory auditors appointed by

the Issuer believed by it to be accurate and reliable.

c) Nothing contained in this Report is capable or intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for

loss or damage from the use of the said information. The MA is also not responsible for any errors in transmission and specifically states that it, or its directors,

employees do not have any financial liabilities whatsoever to the users of this Report.

d) The MA and its affiliates do not act as a fiduciary. The MA and its affiliates also do not act as an expert to the extent defined under Section 2(38) of the

Companies Act, 2013. While the MA has obtained information from sources it believes to be reliable, it does not perform an audit and undertakes no

independent verification of any information/ certifications/ statements it receives from auditors, lawyers, chartered engineers or other experts, and relies on

in its reports.

e) The MA or its affiliates may have other commercial transactions with the entity to which the report pertains. As an example, the MA may rate the issuer or any

debt instruments / facilities issued or proposed to be issued by the issuer that is subject matter of this report. The MA may receive separate compensation for

its ratings and certain credit-related analyses, normally from issuers or underwriters of the instruments, facilities, securities or from obligors.

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Report Date: August 07, 2025

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an

External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt

instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in

Kanjurmarg, Mumbai.

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