Gandhar Oil Refinery (India) Limited — Others, 12-08-2025: Monitoring Agency Report

Gandhar Oil Refinery (India) Ltd. has received its Monitoring Agency Report from ICRA Limited for the quarter ended June 30, 2025, concerning the utilization of its Initial Public Offer (IPO) proceeds. The company's IPO proceeds were previously revised from Rs. 402.77 Cr to Rs. 134.11 Cr. The report confirms that Gandhar Oil has fully utilized the entire revised IPO proceeds of Rs. 134.11 Cr. Importantly, no deviations were observed in the objects for which the funds were raised, nor in the utilized amounts. This provides clear transparency on fund deployment for shareholders.