Key Findings
- No Deviation/Variation: The company confirms there is no deviation or variation in the utilization of IPO proceeds for the quarter ended September 30, 2026.
- Monitoring Agency: CARE Ratings is the monitoring agency for the IPO fund utilization.
- Audit Committee & Auditor Comments: Both the audit committee and auditors have "No Comments" regarding the fund utilization.
IPO Details
- Mode of Fund Raising: Public Issues
- Date of Raising Funds: January 10, 2025
- Amount Raised: ₹2900.00 Million
Fund Utilization Breakdown (Amounts in Millions)
| Sr. | Original Object | Modified Object | Original Allocation | Modified Allocation | Funds Utilized | Deviation/Variation |
| 1 | Issue Related Expenses | Not Applicable | ₹292.20 | ₹272.30 | ₹272.30 | Nil |
| 2 | Funding long-term working capital requirements (Speciality cable division) | Not Applicable | ₹1497.20 | ₹1497.20 | ₹1497.20 | Nil |
| 3 | Capital expenditure for development of Electronic interlocking system | Not Applicable | ₹243.80 | ₹243.80 | ₹16.50 | Nil |
| 4 | Full/part repayment/prepayment of outstanding working capital term loan | Not Applicable | ₹236.20 | ₹236.10 | ₹236.10 | Nil |
| 5 | General Corporate Purpose | Not Applicable | ₹630.60 | ₹650.60 | ₹650.60 | Nil |
Additional Information
- The document defines deviation/variation as: (a) Deviation in the objects/purposes for which funds were raised, (b) Deviation in the amount of funds actually utilized versus original disclosure, or (c) Change in terms of a contract referred to in the fund-raising document.
- The statement was digitally signed by Puneet Khurana on November 10, 2026 at 17:23:01 IST.
- The document was addressed to both National Stock Exchange of India Ltd. and BSE Limited.