Prodocs Solutions Ltd

Issue overview

• Public IPO of equity shares including offer for sale.
• Total issue size and net proceeds disclosed; no undersubscription reported.
• Primary uses: software development, IT capex, debt repayment, working capital, GCP, and general corporate purposes.

Utilisation status

• Object 1: software development ongoing; 1.63 crore utilised; 0.02 crore for GCP pending.
• Object 2: IT Capex fully utilised; no unutilised funds.
• Object 3: Debt repayment fully utilised.
• Object 4: Working capital utilised 4.49/4.50; 0.01 unutilised; completed.
• Object 5: GCP utilised 3.27; 0.02 remaining; ongoing.
• Object 6: Issue-related expenses utilised 1.84; 0.33 in Q1 FY27; 0 unutilised.
• Unutilised proceeds totaling 2.83 crore parked in monitoring account and fixed deposits.
• Deviations from offer document: Nil; delays noted for Object 1 and GCP.

Governance & approvals

• All statutory approvals obtained; BSE principal approval noted.
• No material events or regulatory actions affecting viability reported.
• Board approvals for allocations not explicitly stated.

GCP utilisation

• GCP: 3.27 crore utilised; 0.02 crore remaining; ongoing.
• Note: 0.02 crore for GCP pending due to schedule; not reported as deviation.

Purpose

• Approve four special resolutions: AoA alteration, ESOP 2026, ESOP group extension, and independent director appointment.

Resolutions and outcomes

• Resolution 1 (Special): Alteration of AoA to adopt new Articles per Companies Act 2013 and SEBI regs; approved.
• Resolution 2 (Special): ESOP Scheme 2026 approval and grant of stock options; approved.
• Resolution 3 (Special): Extend ESOP benefits to group companies under ESOP Scheme 2026; 5,754,000 in favour, 1,000 against.
• Resolution 4 (Special): Appoint Neha Vinod Kothari as Non-Executive Independent Woman Director for 5-year term; approved.

Demat/Remat status

• Dematerialisation requests processed during quarter ended 30 June 2026; accepted/rejected by RTA and reported to depositories.
• Securities dematerialised were listed on the stock exchanges where originally listed.
• Physical certificates received for dematerialisation were mutilated and cancelled; depository's name substituted as registered owner within timelines.

Subject and filing scope

• Submission of revised consolidated auditor’s report for half-year and year ended 31 March 2026 in SEBI format.

Standalone financials

• Standalone revenue from operations for six months ended 31-Mar-2026: 2,459.19 Lakhs.

IPO proceeds

• IPO net proceeds amounted to 2,208 Lakhs; utilization across software development, IT hardware, and borrowings repayment.

Dividend declaration

• Board recommended dividend of Rs 1 per equity share (10%), subject to AGM approval.

Consolidated group

• Consolidated results include Prodocs Solutions Ltd, Prodocs Solutions Inc (wholly owned), and Edata Solutions Inc (60%).

Auditor opinion

• Auditors issued unmodified opinion on both standalone and consolidated results for year ended 31 March 2026.

Audit declaration date

• Auditors’ report dated 29 May 2026; SEBI compliance declaration attached.

Geographic revenue

• Standalone segment revenue: India 415.36 Lakhs; USA 2,043.83 Lakhs.

Internal auditor appointment

• M/s. Rahul Khubchandani & Co. appointed as internal auditor for FY 2026-27.
• Appointment approved by the Board on May 29, 2026.
• Firm is a Mumbai-based proprietorship CA firm, FRN 143025W.
• Founder Rahul Khubchandani has over 16 years' experience in audit, taxation, and compliance.
• No director relationship disclosure was applicable.

Final dividend

• 💰 Recommended final dividend of ₹1 per equity share.
• 💰 Dividend is 10% of face value.
• 💰 Face value of each equity share is ₹10.
• 💰 Dividend applies to financial year ended March 31, 2026.
• 📌 Payment is subject to shareholder approval at the AGM.