Patel Chem Specialities Ltd — Important, 13-05-2026: Company Update

Patel Chem Specialities Limited has received the Monitoring Agency Report on the utilization of its Initial Public Offer (IPO) proceeds for the quarter ending March 31. The company raised Rs. 58.80 Cr, with Rs. 51.55 Cr available for stated objectives. No funds were utilized during this quarter. Previously, Rs. 16.26 Cr was used in Q2 and Rs. 6.30 Cr in Q3. An unutilized balance of Rs. 36.24 Cr remains, primarily for capital expenditure. The capital expenditure object, initially estimated at Rs. 43.15 Cr, now has an agreed value of Rs. 45.00 Cr (excluding taxes) via a turnkey agreement. The unutilized funds are held in fixed deposits and a Monitoring Agency Account, with no deviation from the issue objects or implementation delays.