MV Electrosystems Reports No IPO Fund Deviation Q2 FY27

Key Transaction Details

• Mode of Fund Raising: Public Issues
• Date of Raising Funds: August 6, 2026
• Amount Raised: ₹2,900.00 million
• Reporting Period: Quarter ended September 30, 2026
• Monitoring Agency: Applicable - CARE Ratings Limited
• Deviation/Variation in Use of Funds: No

Fund Utilization Details

| Purpose | Original Allocation (₹ millions) | Funds Utilized (₹ millions) | Deviation/Variation (₹ millions) |

| Funding long-term working capital requirements | 1,800.00 | 600.50 | 0.00 |

| Investment in research design and development activities for new power electronic equipment | 210.00 | 12.00 | 0.00 |

| General corporate purpose | 534.60 | 0.00 | 0.00 |

| Issue related expenses | 355.40 | 343.70 | 0.00 |

Regulatory Compliance Status

• No deviation or variation in use of funds raised through IPO
• Explanation for Deviation/Variation: Not Applicable (NA)
• Audit Committee Comments: No Comments
• Auditors Comments: No Comments
• Shareholder Approval: Not required (no deviation)

Financial Impact Assessment

No financial impact from deviation as the company confirms full compliance with original IPO object utilization. Funds are being utilized as per the original allocation without variation.