Nikita Greentech Recycling Utilizes Full IPO Proceeds of Rs. 6,754.18 Lakh
Nikita Greentech Recycling Limited, formerly known as Nikita Papers Limited, has confirmed the full utilization of proceeds raised through its Initial Public Offer (IPO). The company announced the utilization status on May 25, 2026, following an examination by the Statutory Auditors.The audit confirmation pertains to the utilization of funds for the half year and the financial year ended March 31, 2026. M/s. Mittal Goel & Associates, Chartered Accountants, issued the certificate confirming that the total IPO proceeds amounted to Rs. 6,754.18 Lakh.
According to the statutory certificate, the entire amount has been fully utilized by the company toward the objects outlined in the Prospectus dated May 30, 2025. The auditors confirmed that there is no unutilized amount remaining as on March 31, 2026.
The utilization details, as certified by the auditors, are presented below:
| Object as disclosed in the Offer Document | Amount disclosed in the Offer Document (In Rs. Lakh) | Actual Utilised Amount (In Rs. Lakh) | Un-utilised Amount (In Rs. Lakh) |
|---|---|---|---|
| To meet Capital expenditure towards setting up a Power Plant | 5000 | 5,000.00 | 0 |
| To meet out the Working Capital requirements of the Company | 500 | 500.00 | 0 |
| To meet out the General Corporate Purposes | 815.23 | 815.23 | 0.00 |
| To meet out the Issue Expenses | 438.95 | 438.95 | 0.00 |
| Total | 6,754.18 | 6,754.18 | 0 |
The audit certification affirmed that the utilisation of the issue proceeds was in accordance with the objects stated in the Offer Document. Management noted that the Utilization Certificate was reviewed and approved by the Audit Committee and taken on record by the Board of Directors on May 25, 2026.
NIKITA Stock Price Movement
Today, NIKITA GREENTECH RECYCLING LIMITED shares edged higher, settling at ₹73 after gaining 0.76% today. The stock traded on a solid volume of 42,000 shares, showcasing increased interest in the Forest Materials sector.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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