Rashi Peripherals Submits Q3FY26 Monitoring Agency Report for IPO Proceeds Utilization

Rashi Peripherals Limited has submitted its quarterly monitoring agency report for the period ended December 31, 2025, detailing the utilization of proceeds from its Rs. 600 crore Initial Public Offer. The report, prepared by CARE Ratings Limited as the monitoring agency, confirms compliance with regulatory requirements under SEBI regulations and shows no material deviations from the disclosed objects. IPO Proceeds Utilization Overview The monitoring report reveals that Rashi Peripherals has maintained adherence to its original IPO objectives without any deviations. During the quarter ended December 31, 2025, the company utilized Rs. 1.71 crore specifically under the General Corporate Purpose category, bringing the total cumulative utilization to Rs. 552.53 crore out of the allocated Rs. 554.14 crore. Parameter: Amount (Rs. Crore) Total IPO Allocation: 554.14 Cumulative Utilization: 552.53 Q3FY26 Utilization: 1.71 Remaining Unutilized: 1.61 Quarterly Utilization Breakdown The Rs. 1.71 crore utilized during Q3FY26 was allocated entirely toward General Corporate Purpose, specifically for fixed asset purchases. The company made these expenditures through its Cash Credit account with HDFC Bank, transferring funds from the monitoring account as expenses were incurred. Utilization Category: Amount (Rs. Crore) Purpose Fixed Asset Purchase: 1.66 Equipment and infrastructure Mobile Scanners: 0.05 Direct purchase from monitoring account Total Q3FY26: 1.71 Fixed assets Object-wise Progress Status The monitoring report provides a comprehensive view of progress across all three main IPO objects. The company has successfully completed utilization for debt repayment and working capital requirements, with only the General Corporate Purpose category showing remaining funds. IPO Object: Allocated (Rs. Crore) Utilized (Rs. Crore) Status Debt Repayment: 326.00 326.00 Complete Working Capital: 220.00 220.00 Complete General Corporate Purpose: 8.14 6.53 Ongoing Timeline Extension and Future Plans Rashi Peripherals has extended the timeline for utilizing the remaining General Corporate Purpose funds through a Board resolution dated April 21, 2025. Originally scheduled for completion by the end of fiscal year 2024, the utilization timeline has been extended to the end of fiscal year 2026 or thereafter. This extension provides the company with additional flexibility to deploy the remaining Rs. 1.61 crore based on business requirements. Deployment of Unutilized Funds The remaining IPO proceeds are currently deployed in designated accounts to ensure proper monitoring and compliance. The funds are maintained in specific monitoring accounts with Axis Bank and IndusInd Bank, ensuring transparency and regulatory adherence. Account Details: Amount (Rs. Crore) Axis Public Issue Account: 1.60 IndusInd Monitoring Account: 1.61 Regulatory Compliance CARE Ratings Limited confirmed that all utilization remains consistent with disclosures in the offer document, with no material deviations observed. The monitoring agency verified that shareholder approval requirements do not apply as no deviations have occurred, and all statutory arrangements remain operational. The report was reviewed by the company's Audit Committee at its meeting held on February 3, 2026, ensuring proper governance oversight of IPO proceeds utilization. Rashi Peripherals Limited announced significant board changes on February 3, 2026, with the appointment of two additional directors following recommendations from the Nomination and Remuneration Committee. The appointments were made in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Key Board Appointments The board approved two strategic appointments that will strengthen the company's leadership structure: Position Name Term Effective Date Whole-Time Director & CEO Mr. Rajesh Goenka (DIN: 10985108) 5 years February 3, 2026 to February 2, 2031 Independent Director Dr. Indumati Gopinathan (DIN: 06779331) Until 38th AGM February 3, 2026 Rajesh Goenka's Leadership Profile Mr. Rajesh Goenka brings substantial experience to his new role as Chief Executive Officer. He holds a Bachelor's degree in Chemical Engineering from Pune University and has accumulated over 25 years of extensive experience in sales and marketing. His association with the company dates back to 2008, where he has played a pivotal role in driving growth through strategic vision and leadership. Goenka has been instrumental in shaping the company's remarkable journey, leading it to achieve consistent double-digit compound annual growth rate (CAGR) for over 20 years. His appointment as Whole-Time Director and CEO reflects the board's confidence in his ability to continue steering the company's growth trajectory. Dr. Indumati Gopinathan's Expertise Dr. Indumati Gopinathan joins as an Additional Non-Executive Independent Director, bringing diverse professional experience from the healthcare sector. She is an experienced pathologist with MBBS and MD degrees from Seth G.S. Medical College, Mumbai, and has led pathology departments in leading hospitals with specialization in ocular pathology and uropathology. Her professional portfolio includes: Current role as Independent Director at Thyrocare Technologies Limited Leadership positions in National AIDS Control Organization and Indian Medical Association Pioneer in telemedicine initiatives Completion of Masterclass on Women Directorship by NSE Limited Active involvement in healthcare governance and social impact projects Regulatory Compliance and Next Steps Both appointments comply with SEBI regulations and require approval from the company's members. The directors have confirmed that neither appointee is debarred from holding directorial positions by SEBI or any other regulatory authority. The appointments reflect Rashi Peripherals' commitment to strengthening its board composition with experienced professionals who can contribute to the company's strategic objectives and governance standards. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. 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