Brace Port Logistics Limited has submitted its official disclosure on the utilization of IPO proceeds to the National Stock Exchange of India for the quarter ended 30 September 2025. The disclosure has been provided in accordance with Regulation 262 sub regulation 5 of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements Regulations 2018. The filing includes a certificate from the company and a verification statement issued by the firms statutory auditors Bhagi Bhardwaj Gaur and Co.

The company raised a total of Rs 24.40 crore through its public issue, with the date of fund raising recorded as 22 August 2024 and allotment completed on 6 August 2024. As per the report, the company has not observed any deviation or variation in the utilization of the proceeds from the public issue, confirming that the funds have been deployed strictly in line with the objects stated in the offer document. The monitoring agency requirement is not applicable to this IPO based on size and regulatory provisions.

The utilization statement provided by the statutory auditors outlines the allocation and deployment of funds under three primary heads: working capital requirements, general corporate purposes, and issue related expenses. For working capital, an allocation of Rs 1610 lakh was made, with Rs 1186.3 lakh reported as utilized. For general corporate purpose expenses, the allocation was Rs 193 lakh with reported usage completed. For issue expenses, Rs 381.62 lakh was allocated and nil deviation has been confirmed in their application.

The auditors have confirmed that there is no variation between the projected use of funds and the actual utilization for the quarter. The audit review does not report any concerns, and the comments section states that there are no deviations that require explanation or further shareholder approval. The disclosure underscores adherence to SEBI requirements and reflects the companys commitment to transparent financial reporting.

This certificate submission ensures regulatory compliance and provides assurance to investors and stakeholders that the company continues to apply its IPO proceeds responsibly in line with the disclosed objectives. The filing was signed by Company Secretary and Compliance Officer Megha Verma from New Delhi on 18 November 2025, and the audit certificate was issued by Mohit Gupta, Partner at Bhagi Bhardwaj Gaur and Co., dated 13 November 2025.

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