Statement of Deviation or Variation under SEBI LODR Regulation 32
Fund Raising Details
- Mode of Fund Raising: Public Issue (IPO)
- Date of Raising Funds: September 22, 2026
- Amount Raised: ₹31.02 Crores
Deviation/Variation Status
- Is there Deviation/Variation in use of funds? No
- Reason for filing: Temporary parking of unutilized IPO proceeds in fixed deposits for prudent governance
- Whether pursuant to change in objects? No (interim deployment only)
- Shareholder approval obtained? Not applicable for temporary parking
Explanation for Temporary Deployment
IPO proceeds of ₹9.55 crore are temporarily parked in Bank Fixed Deposits with State Bank of India as these funds are not required for deployment toward the objects of the issue in the immediate period.
Audit Committee Comments
1. Out of net IPO proceeds, ₹955.15 lakhs (₹9.55 crore) are deployed in Fixed Deposits with State Bank of India due to no immediate requirement
2. Confirmed there is no deviation or variation in the use of proceeds from the objects stated in the Prospectus
Auditor Comments
None provided
Governance Process
- The statement was reviewed by the Audit Committee
- Taken on record by the Board of Directors at their meeting held on October 24, 2026
- Filed with BSE Limited on October 24, 2026