In terms of Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, we are enclosing herewith statement of Utilization of issue proceeds as reviewed by Audit Committee at its meeting held on 9th January 2018. We also enclose herewith report of the monitoring agency for utilization of issue proceeds for our Company's Initial Public Offer for the quarter ended December 31, 2017.