Global Ocean Logistics India Limited Reports IPO Fund Utilization for Q3 FY26

Global Ocean Logistics India Limited has filed its mandatory Statement of Deviation(s) or Variation(s) with BSE Limited for the quarter ended December 31, 2025, reporting on the utilization of funds raised through its Initial Public Offer. The company completed its IPO on December 24, 2025, raising ₹3041.38 lakhs, and has reported no deviations in the planned use of these funds. IPO Fund Utilization Overview The company has utilized ₹810.93 lakhs out of the total ₹3041.38 lakhs raised, leaving ₹2230.45 lakhs unutilized as of December 31, 2025. The utilization spans across three primary objectives as outlined in the original IPO prospectus. Objective Original Allocation (₹ Lakhs) Amount Utilized (₹ Lakhs) Unutilized Amount (₹ Lakhs) Status Working Capital Requirements 2126.85 306.93 1819.92 Partially utilized General Corporate Purposes 456.21 73.80 382.41 Partially utilized Issue Expenses 458.32 430.20 28.12 Partially utilized Total 3041.38 810.93 2230.45 Fund Allocation Details The largest portion of the IPO proceeds, ₹2126.85 lakhs, was allocated for working capital requirements. Of this amount, the company has utilized ₹306.93 lakhs, representing approximately 14.44% of the allocated funds. The relatively low utilization rate is attributed to the recent completion of the IPO and listing process on December 24, 2025. For general corporate purposes, the company allocated ₹456.21 lakhs and has utilized ₹73.80 lakhs. Issue expenses, which typically include costs related to the IPO process, were allocated ₹458.32 lakhs, with ₹430.20 lakhs already utilized, representing the highest utilization rate among the three categories at approximately 93.86%. Regulatory Compliance The statement was prepared in compliance with Regulation 32(1)(a) and (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As required under Regulation 32(3), the statement has been reviewed by both the Audit Committee and Board of Directors of the company. Charterd Accountants Dharmesh B. Mehta & Co have provided an auditor's certificate confirming the fund utilization details. The certificate was issued specifically for submission to BSE and includes a disclaimer that it should not be used for any other purpose without prior written consent. Company Information Parameter Details Company Name Global Ocean Logistics India Limited CIN L60300MH2021PLC353158 Registered Office C-101, Business Square, Andheri Kurla Road, Andheri East, Mumbai-400097 BSE Scrip Code 544665 IPO Completion Date December 24, 2025 Reporting Quarter Q3 FY26 (ended December 31, 2025) The company's Chairman and Managing Director, Niraj Narsaria (DIN: 07014082), signed the compliance documents submitted to BSE Limited. The statement confirms that there are no deviations or variations in the use of funds from the original objectives outlined in the IPO prospectus, indicating adherence to the planned fund deployment strategy despite the early stage of utilization. Global Ocean Logistics, a new entrant to the BSE SME platform, made its stock market debut today with a modest premium. The company's shares opened at ₹79.20, marking a 1.5% increase from its initial public offering (IPO) price of ₹78. IPO Details The company's IPO, which aimed to raise ₹30 crore, garnered significant interest from investors. The issue was oversubscribed by 13.64 times, indicating strong demand for the company's shares. IPO Details Values Issue Size ₹30.00 crore Issue Price ₹78.00 Listing Price ₹79.20 Listing Premium 1.50% Subscription Rate 13.64 times Market Response The modest premium on listing day suggests a cautious but positive market response to Global Ocean Logistics. While the 1.5% increase may seem small, it's worth noting that many SME listings often face volatility in their early trading days. The strong subscription rate of 13.64 times indicates significant investor interest during the IPO phase, which could bode well for the company's future market performance. Outlook As Global Ocean Logistics begins its journey as a publicly traded company, investors will be keen to observe its performance and growth strategies in the coming quarters. 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