Vandan Foods Limited has received its Monitoring Agency Report for IPO proceeds, confirming "No Deviation" from the stated objects.

Vandan Foods Ltd544436 · Filed with the exchange

From its Rs. 30.36 crore IPO, Rs. 0.105 crore remains unutilized.

The company's original Monitoring Account was closed by the bank due to debt exposure, but the remaining funds are securely held in an Escrow Account.

Vandan Foods is now actively opening a new Monitoring Account to transfer these funds, ensuring proper oversight and segregation as they continue towards the IPO objectives and uphold transparency for shareholders.

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