Kross reports no deviation in IPO fund use for Q4FY26

kross has confirmed that there was no deviation or variation in the utilization of proceeds from its Initial Public Offering (IPO) for the quarter ended March 31, 2026. In a regulatory filing submitted on May 12, 2026, the company stated that the funds were deployed strictly in accordance with the objects mentioned in the prospectus. The Audit Committee has reviewed the utilization statement, and no comments were raised by the auditors or the committee regarding the fund deployment.

Utilization of IPO Proceeds

The company raised funds through an IPO on September 12, 2024. The total amount raised was INR 2500 million, comprising a fresh issue and an offer for sale. The net proceeds amounted to INR 2369.19 million. The monitoring agency for the fund utilization is India Ratings and Research Private Limited. The company reported that all allocated funds have been utilized for their designated purposes during the reported quarter.

Breakdown of Fund Allocation

The following table details the utilization of the IPO proceeds against the original objects:

Original Object Original Allocation (INR million) Funds Utilised (INR million) Funding of capital expenditure requirements for machinery and equipment 700.00 700.00 Repayment or prepayment of borrowings from banks and financial institutions 900.00 900.00 Funding working capital requirements of the Company 300.00 300.00 General corporate purposes 461.92 469.19 Total (A) 2361.92 2369.19 Offer Expenses (B) 138.08 130.81 Total (A+B) 2500.00 2500.00

The actual issue expense was INR 130.81 million against the estimated INR 138.08 million. The balance amount of INR 7.27 million, resulting from the lower-than-estimated expenses, has been proposed to be utilized for General Corporate Purposes. Consequently, the allocation for general corporate purposes was adjusted to INR 469.19 million. The company confirmed that there were no deviations in the usage of funds for the specified objects.

Kross Limited has re-appointed GWC Professional Services Private Limited as its Internal Auditor for the financial year 2026-27. The decision was taken by the Board of Directors at its meeting held on May 12, 2026. The appointment is pursuant to Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

GWC Professional Services Private Limited, a Kolkata-based firm, has been appointed to review operational efficiency, internal controls, risk management systems, and the compliance framework. The firm specializes in the integration of risk management frameworks with internal audit. The term of the appointment covers FY 2026-27.

Parameter Details Name of Internal Auditor GWC Professional Services Private Limited Date of Appointment May 12, 2026 Term of Appointment FY 2026-27 Basis of Appointment Section 138, Companies Act, 2013 Scope of Audit Operational efficiency, internal controls, risk management, compliance

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