Ace Alpha Tech Ltd — Important, 15-05-2026: Company Update

Ace Alpha Tech Limited's monitoring agency, CARE Ratings, reported no deviation in the utilization of its Initial Public Offer (IPO) proceeds for the quarter ended March 31. The company raised Rs. 24.48 Cr from its IPO, with Rs. 19.14 Cr utilized to date. During the quarter, Rs. 5.46 Cr went into capital expenditure, including a server facility and workforce expansion. All Rs. 8.12 Cr for unidentified acquisitions and general corporate purposes were used, notably Rs. 0.31 Cr for shares in uTrade Solutions Private Limited. Rs. 5.34 Cr of IPO funds remain unutilized.