<p>This paper comprehensively reviews existing literature on the disclosure of proceeds usage in IPO prospectuses and its influence on IPO outcomes. Using a systematic literature review approach, the study examines scholarly articles published between 1997 and 2025, categorizing them into six distinct themes to identify research gaps within this domain. The findings offer a detailed thematic framework, establishing a relationship between proceeds disclosure practices and various IPO dimensions. This analysis highlights existing gaps and proposes a future research agenda to expand the scope of studies in this field. Furthermore, the study underscores the practical implications of corporate transparency in proceeds disclosure, enabling investors and analysts to make informed decisions about a company's prospects. To the best of our knowledge, this is the first study to systematically review the literature on this specific theme, offering a valuable roadmap for researchers, practitioners, and policymakers alike.</p>