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Patel Chem Specialities' Monitoring Agency Report for the quarter ended June 30, 2026, indicates a minor deviation in IPO fund utilization. A shortfall of Rs 0.015 crore, representing 0.025% of gross proceeds, resulted from an interest penalty due to premature closure of a fixed deposit. The company's management has committed to covering this amount from its own funds next quarter, ensuring it's used for the defined objectives. During the reported quarter, Rs 1.45 crore was utilized for capital expenditure. The unutilized balance of Rs 34.78 crore from the IPO proceeds is currently held in fixed deposits and a monitoring account, primarily earmarked for the Indrad plant expansion.