Ducol Organics Utilizes ₹31.43 Crore IPO Proceeds

Ducol Organics and Colours Limited has disclosed the utilization of funds raised through its Initial Public Offering (IPO) for the quarter and year ended March 31, 2026. The statutory auditor's certificate confirms that the company raised a total of INR 31,51,20,000 via the public issue. As of the reporting date, the company has utilized INR 31,43,57,357 for the purposes outlined in the offer document.

Fund Utilization Details

The company reported that the balance unutilized amount of INR 7,62,643 is currently parked in a Fixed Deposit with NKGSB Bank. This placement was confirmed through bank statements and fixed deposit confirmations provided by the management. The utilization details were submitted to the National Stock Exchange of India Limited in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Half-Yearly Utilization

During the half-year period spanning from October 1, 2025, to March 31, 2026, the company utilized an aggregate amount of ₹22,39,19,170 from the IPO proceeds. This expenditure was allocated towards specific operational needs as detailed in the auditor's report.

Purpose Amount Utilized (₹) Working Capital Requirements 21,77,65,000 General Corporate Purposes 61,54,170 Total 22,39,19,170

Compliance Status

The statement of deviation or variation confirms that there has been no deviation in the use of funds raised compared to the original objects disclosed. The original allocation for the IPO proceeds was directed towards funding working capital requirements, general corporate purposes, and issue-related expenses. The audit committee and auditors have noted no deviations, and the monitoring agency was not applicable for this fund-raising exercise.

Cohance Lifesciences Limited has informed its members about the commencement of the e-voting process for resolutions proposed in the Postal Ballot Notice dated May 11, 2026. The company engaged KFin Technologies Limited as the agency to facilitate the electronic voting facility. The communication of assent and dissent from members will take place exclusively through the remote e-voting process.

The e-voting period is scheduled to begin at 9:00 a.m. IST on Friday, May 15, 2026, and will end at 5:00 p.m. IST on Saturday, June 13, 2026. No voting will be permitted beyond this timeframe, as the e-voting module will be disabled immediately upon the expiry of the period. The company completed the electronic dispatch of the Postal Ballot Notice on Thursday, May 14, 2026, to members whose email addresses were registered with the company or its Registrar and Transfer Agent as of the cut-off date of Friday, May 8, 2026.

Only individuals recorded in the Register of Members or the Register of Beneficial Owners maintained by the depositories as of the cut-off date are eligible to participate. Members who did not receive the notice can download it from the company's website, the websites of BSE Limited and National Stock Exchange of India Limited, or the KFinTech portal.

E-Voting Schedule

Event Date and Time Commencement of e-voting 9:00 a.m. IST on Friday, May 15, 2026 End of e-voting 5:00 p.m. IST on Saturday, June 13, 2026

If the resolutions are approved, they will be deemed to have been passed on the last date of e-voting, which is Saturday, June 13, 2026. The results of the voting process are expected to be announced on or before Monday, June 15, 2026. These results will be displayed on the company's website and the KFinTech portal, in addition to being communicated to the stock exchanges and displayed at the registered office.

Members requiring assistance with the e-voting process may refer to the 'Help' and 'FAQs' sections or the E-voting user manual available on the KFinTech website. For specific queries or grievances, members can contact Mrs. C. Shobha Anand, Vice President at KFin Technologies Limited, via email at eVoting@kfintech.com or call the toll-free number 1800-309-4001.

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