BSECompany Update6d ago · 14 Aug 2026, 06:18 pm
We are submitting Monitoring Agency Report for the Quarter ended 30th June 2026.
Chemkart India Ltd · 544442
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Chemkart India Ltd has submitted a Monitoring Agency Report for the quarter ended June 30, 2026, as required by SEBI regulations, detailing the utilization of funds raised through its IPO.
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Chemkart India Ltd - 544442 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report
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14th August 2026
The Corporate Relations Department
BSE Limited
Phiroze Jeejeebhoy Towers
Dalal Street, Mumbai – 400001
Scrip Code: 544442
Dear Sir/Madam,
Sub: Submission of Monitoring Agency Report for the Quarter ended 30th June 2026.
Ref.: Disclosure under Regulation 32(6) of the Securities and Exchange Board of India
(Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
(“SEBI Listing Regulations”) and Regulation 41 (4) of SEBI (Issue of Capital and
Disclosure Requirements) Regulations, 2018 as amended (“SEBI ICDR Regulations”).
Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), read with Regulation 41(4)
of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we are submitting
herewith the Monitoring Agency Report issued by Brickworks Ratings India Private Limited, for the
Quarter ended 30th June 2026, in respect of the utilisation and application of funds raised through the
IPO of the Company.
Kindly take the above information on record.
Thank you.
For Chemkart India limited
Basavaraj Shankar Dalawai
Designation: Chief Financial Officer
Enclosed: A/a
Monitoring Agency Report for
Chemkart India Limited
for the quarter ended
June 30, 2026
No. BWR/2026-27/IPM/CIL/04
August 14,2026
Mr. Basavaraj Shankar Dalawai
Chief Financial O(cid:431)icer
Chemkart India Limited
O(cid:431)ice No. 403/404, 4th Floor, K.L. Accolade,
6th Road, TPS III, Santacruz (East),
Mumbai - 400055, Maharashtra, India
Dear Sir,
Fourth Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the
Fresh Issue and O(cid:431)er for Sale of Equity Shares Issue of Chemkart India Limited (“the
Company”)
Pursuant to Regulation 41 of SEBI (Issue of Capital and Disclosure Requirements) Regulations,
2018 (“SEBI ICDR Regulations”) and Monitoring Agency Engagement Letter dated May 28, 2025,
Brickwork Ratings (BWR) has prepared the Fourth Monitoring Agency Report, as per Schedule XI
of the SEBI ICDR Regulations towards utilisation of proceeds from the funds raised, for the
quarter ended June 30, 2026.
The funds raised by the Company were through Fresh Issue and O(cid:431)er for Sale of Equity Shares
aggregating to Rs 80.08 Crore of the Company.
In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30,
2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated June 20, 2025.
Request you to kindly take the same on records.
Thanking you,
Yours Faithfully,
Mr Niraj Kumar Rathi
Senior Director, Ratings - Brickwork Ratings
Report of the Monitoring Agency (MA)
Name of the issuer: Chemkart India Limited
For quarter ended: June 30, 2026
Name of the Monitoring Agency: Brickwork Ratings India Private Limited
(a) Deviation from the objects: No
(b) Range of Deviation: NA
Declaration:
We declare that this report is based on the format prescribed by the SEBI (ICDR) Regulations, 2018, we
further declare that this report provides a true and fair view of the utilization of the issue proceeds in relation
to the objects of the issue based on the information provided by the Issuer and information obtained from
sources believed by it to be accurate and reliable.
We declare that we do not have any direct/indirect interest in or relationship with the
issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest
in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the
issuer.
The MA does not perform an audit and undertakes no independent verification of any information/
certifications/ statements it receives. This Report is not intended to create any legally binding obligations
on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said
information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any
security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should
be construed as creating a fiduciary relationship between the MA and any issuer or between the agency
and any user of this report. The MA and its a(cid:431)iliates also do not act as an expert as defined under Section
2(38) of the Companies Act, 2013.
The MA or its a(cid:431)iliates may have a credit rating or other commercial transactions with the entity to which
the report pertains and may receive separate compensation for its ratings and certain credit related
analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and
reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other
commercial transactions with the entity.
We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments,
where applicable. There are certain sections of the report under the title “Comments of the Board of
Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors
subsequent to the MA submitting their report to the issuer and before dissemination of the report through
stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for
such comments of the issuer’s Management/Board.
Signature:
Name of the Authorized Signatory: Mr Niraj Kumar Rathi
Designation of Authorized Person/Signing Authority: Senior Director, Ratings, Brickwork
Ratings
1) Issuer Details:
Name of the issuer: Chemkart India Limited
Names of the promoter: Mr. Ankit Shailesh Mehta, Ms. Parul Shailesh
Mehta and Mr. Shailesh Vinodrai Mehta
Industry / sector to which it belongs: Nutraceuticals
2) Issue Details:
Issue period: 7 July 2025 to 9 July 2025
Type of issue (public/ rights): Fresh Issue and O(cid:431)er for Sale of Equity shares
Type of specified securities: Equity Shares
IPO Grading, if any: Not Applicable
Issue size (in ₹ Crore): 80.08
Total
Amount
Number Value as per Offer Document
Particulars Price (₹) Received
of (₹ Crore)
(₹ Crore)
Securities
Equity Shares-Fresh Issue 2600000 248 64.48 64.48
Equity Shares-Offer for sale 629200 248 15.60 15.60
Total 3229200 248 80.08 80.08
Note: As per prospectus, the O(cid:431)er for Sale (OFS) amount is Rs.15.60 crore. During the quarter
ended September 30, 2025, the company has transferred Rs.13.69 crore to OFS share holder and
Rs.2.20 crore issue expenses was incurred by the company related to OFS thus aggregating to
Rs.15.89 crore. Accordingly, this has resulted in an additional outflow of Rs 0.29 crore towards
the OFS shareholders, over and above the amount specified in the Prospectus.
3) Details of the arrangement made to ensure the monitoring of issue proceeds:
Source of
information /
Comments Comments
certifications
of of
Particulars Reply considered by
Monitoring Board of
Monitoring Agency
Agency Directors
for preparation of
report
Bank Statements,
Whether all utilization is as per
Company’s letter,
the disclosures in the O(cid:431)er No Nil Nil
Invoices, CA
Document?
Certificate.
Whether shareholder approval
has been obtained in case of
material deviations# from Nil Nil Nil
Applicable
expenditures disclosed in the
O(cid:431)er Document?
Whether the means of finance for
the disclosed objects of the issue No Nil Nil Nil
has changed?
Is there any major deviation
observed over the earlier Nil
Applicable Nil Nil
monitoring agency reports?
Whether all
Government/statutory approvals
Yes Company’s letter Nil Nil
related to the object(s) have been
obtained?
Whether all arrangements
pertaining to technical Not
Nil Nil Nil
assistance/collaboration are in Applicable
operation?
Are there any favorable events
improving the viability of these No Company’s letter Nil Nil
object(s)?
Are there any unfavorable events
a(cid:431)ecting the viability of the No Company’s letter Nil Nil
object(s)?
Is there a
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