Garuda Construction and Engineering Limited — Others, 13-08-2025: Monitoring Agency Report

Garuda Construction and Engineering Limited's latest monitoring report for the quarter ended June 30, 2025, confirms full utilization of its IPO proceeds. The company's monitoring agency found no deviation from the stated objectives outlined in the offer document. The net proceeds of INR 159.67 Cr from the fresh issue have been completely deployed. This includes INR 100.00 Cr towards working capital and INR 59.67 Cr for general corporate purposes, which covered unidentified inorganic acquisitions. This signals the company is executing its funding plans as initially disclosed, providing transparency to shareholders on fund deployment.