Purple United Sales Limited Files Report on Utilization of SME IPO Proceeds
Purple United Sales Limited, formerly Purple United Sales Private Limited, has received an independent Chartered Accountants' report detailing the utilization of net offer proceeds raised through its SME Initial Public Offer (IPO). The report, dated May 9, 2026, confirms the status of fund deployment as of March 31, 2026.The investigation into the utilization of proceeds was conducted by NGMKS & Associates, the independent Chartered Accountants, confirming details related to the public issue of the company’s shares.
IPO Offering Details
The IPO saw the issuance of 2.604 lakhs Equity Shares of face value of Rs 10/- each. The financial figures associated with the offering are detailed as follows:| Metric | Amount (in lakhs) |
|---|---|
| Gross Proceeds | Rs 3,281.04 |
| Net Proceeds | Rs 2,893.01 |
| Shares Issued | 2.604 lakhs |
The IPO utilized the public route and took place between December 11, 2024, and December 13, 2024.
Utilization Status and Deployment
As per the independent audit, the utilization of the net offer proceeds of Rs 2,893.01 lakhs was assessed. The report indicated that there was no deviation from the originally stated objectives.The original cost structure for the IPO's objectives, as presented in the offer document, was:
| Object Head | Original Cost (Amount in lakhs) |
|---|---|
| Working capital requirements | 1,800/- |
| Expenditure for opening new stores | 535.40/- |
| General Corporate Purpose | 557.67/- |
During the period, the deployment reflected the following utilization amounts (Amount in lakhs):
| Object Head | Amount Utilized (in lakhs) |
|---|---|
| Working capital requirements | 1,800/- |
| Expenditure for opening new stores | 535.40/- |
| General Corporate Purpose | 557.26/- |
The audit also confirmed the details regarding unutilized funds and their proposed deployment.
| Item Head | Original Cost (Amount in lakhs) | At the end of the period (Amount in lakhs) | Total unutilized amount (Amount in Lakhs) |
|---|---|---|---|
| Working capital requirements | 1,800/- | 1,800/- | NIL |
| Expenditure for opening new stores | 535.40/- | 535.40/- | NIL |
| General Corporate Purpose | 557.67/- | 557.26/- | 0.35/- |
The report noted that the unutilized amount of 0.35 lakhs is lying with an Escrow account maintained with Axis Bank Ltd.
Audit Conclusion
Based on the examination, the independent Chartered Accountants reported that nothing came to their attention that caused them to believe the details provided in the statement were not in agreement with the audited books of accounts and other records for the period from October 01, 2025, to March 31, 2026, and the Prospectus dated December 13, 2024.PURPLEUTED Stock Price Movement
On Friday, Purple United Sales Limited shares gained 9.99% on the session, closing at ₹342.50 after rising ₹31.10 from its previous close. The stock traded on a significant volume of 118,500 shares, setting an intraday high of ₹342.50 over a range that dipped to ₹296.05.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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