R K SWAMY Has Rs 42.8489 Crore IPO Proceeds Still Unspent

R K SWAMY Limited had Rs 42.8489 crore of net initial public offering proceeds unutilised at September 30, 2026, after deploying Rs 113.4763 crore of Rs 156.3252 crore raised for specified objects. The full Rs 10.985 crore allocation for setting up a DVCP studio remained unspent, according to the November 12, 2026 financial-results filing.

How much of R K SWAMY's IPO proceeds remain unutilised?

R K SWAMY had Rs 42.8489 crore unutilised from net IPO proceeds of Rs 156.3252 crore at September 30, 2026. Its disclosed utilisation of Rs 113.4763 crore represents 72.6% of net proceeds, while the remaining balance was allocated to the DVCP studio, information-technology infrastructure, and new CEC and CATI.

R K SWAMY completed its IPO during the year ended March 31, 2024, and its shares were listed on BSE Limited and the National Stock Exchange of India Limited from March 12, 2024. The IPO included a fresh issue of Rs 173 crore, while the utilisation disclosure tracks the Rs 156.3252 crore of net proceeds available for the prospectus objects.

Which R K SWAMY IPO projects have not received spending?

R K SWAMY had recorded no utilisation against the Rs 10.985 crore prospectus allocation for setting up a DVCP studio by September 30, 2026. The filing uses the term DVCP studio without expanding it, and does not disclose a completion date, revised cost, implementation milestone or reason for the absence of spending.

The largest unutilised balance was Rs 18.811 crore for IT infrastructure development at R K SWAMY and its material subsidiaries, Hansa Research and Hansa Customer Equity. Of the Rs 33.342 crore allocated to this object, R K SWAMY had deployed Rs 14.531 crore, leaving 56.4% of the allocation unutilised at the reporting date.

R K SWAMY also had Rs 13.0529 crore unutilised for setting up new CEC and CATI. It had spent Rs 8.6831 crore of the Rs 21.736 crore allocation, equivalent to 39.9% utilisation, compared with no utilisation for the DVCP studio allocation.

Where has R K SWAMY fully used IPO money?

R K SWAMY had fully deployed the Rs 54 crore allocated to working-capital requirements by September 30, 2026. It had also fully used Rs 36.2622 crore earmarked for general corporate purposes, meaning these two objects accounted for Rs 90.2622 crore, or 79.5%, of the Rs 113.4763 crore utilised total.

The three remaining project objects had a combined prospectus allocation of Rs 66.063 crore, of which R K SWAMY had used Rs 23.2141 crore by September 30, 2026. Their combined unutilised balance of Rs 42.8489 crore equalled all remaining IPO proceeds because the working-capital and general-corporate-purpose allocations had been fully utilised.

The disclosed pattern separates fully used allocations for working capital and general corporate purposes from partial deployment for the studio, IT infrastructure and new CEC and CATI. R K SWAMY provided cumulative utilisation through September 30, 2026, but did not provide a quarter-by-quarter spending split for the Rs 14.531 crore spent on IT infrastructure or the Rs 8.6831 crore spent on new CEC and CATI.

How did R K SWAMY perform in the September 2026 quarter?

R K SWAMY reported consolidated revenue from operations of Rs 84.5333 crore for the quarter ended September 30, 2026, compared with Rs 73.6484 crore a year earlier. Profit for the quarter was Rs 1.109 crore, compared with Rs 53.64 lakh in the September 2025 quarter, while total expenses rose to Rs 76.3103 crore from Rs 67.7097 crore.

For the six months ended September 30, 2026, R K SWAMY's revenue from operations rose to Rs 168.1508 crore from Rs 151.2163 crore in the corresponding 2025 period. Six-month profit increased to Rs 4.5741 crore from Rs 3.411 crore, although R K SWAMY said its operating results are not evenly distributed through the year because of the nature of the business and past trends.

R K SWAMY reported cash and cash equivalents of Rs 18.2834 crore at September 30, 2026, down from Rs 35.7388 crore at March 31, 2026. Bank balances other than cash equivalents were Rs 87.0699 crore, down from Rs 100.1295 crore, while the six-month cash-flow statement showed Rs 17.8373 crore of net cash used in operating activities against Rs 2.5288 crore generated a year earlier.

What has R K SWAMY said about future IPO-proceeds deployment?

R K SWAMY did not disclose a future spending timetable, revised project budget or completion target for the Rs 42.8489 crore unutilised proceeds in its November 12, 2026 filing. The company reported Rs 10.985 crore outstanding for the DVCP studio and Rs 31.8639 crore outstanding across IT infrastructure and new CEC and CATI.

The board approved the unaudited consolidated results on November 12, 2026, after an Audit Committee review on November 11, 2026. The statutory auditors issued an unmodified review conclusion for the quarter and six months ended September 30, 2026.

R K SWAMY operates in one reportable segment, Integrated Marketing Services, under Indian Accounting Standard 108, which covers operating segments. The filing therefore does not separately report revenue, profit or capital expenditure for the DVCP studio, IT infrastructure, or new CEC and CATI, leaving the IPO-object table as the direct disclosure for tracking deployment.

Conclusion

R K SWAMY had deployed Rs 113.4763 crore of its Rs 156.3252 crore net IPO proceeds by September 30, 2026, while Rs 42.8489 crore remained tied to three project objects. The balance was led by Rs 18.811 crore for IT infrastructure, followed by Rs 13.0529 crore for new CEC and CATI and Rs 10.985 crore for the DVCP studio.

The next filing will show whether R K SWAMY starts spending the Rs 10.985 crore DVCP studio allocation and reduces the Rs 42.8489 crore total balance. The November 12, 2026 disclosure gives no target date or revised budget for those remaining IPO-funded objects.