Key Quantitative Figures

  • Total IPO Proceeds Raised: ₹1,486.08 lakhs
  • Listing Date on BSE SME: 30th January, 2026
  • Funds Utilized up to 31st March, 2026: ₹1,238.27 lakhs
  • Unutilized Amount up to 31st March, 2026: ₹247.81 lakhs
  • Amount of Temporary Deviation: ₹141.97 lakhs

Object-wise Fund Utilization Breakdown

Purchase of Plant and Machinery

  • Original Allocation: ₹379.00 lakhs
  • Funds Utilized: ₹131.19 lakhs
  • Unutilized Amount: ₹247.81 lakhs
  • Deviation: ₹141.97 lakhs temporarily utilized towards working capital requirements
  • Remarks: ₹105.84 lakhs temporarily invested in fixed deposits with scheduled banks pending deployment

Prepayment or Repayment of Secured Loan

  • Original Allocation: ₹217.00 lakhs
  • Funds Utilized: ₹217.00 lakhs
  • Unutilized Amount: Nil
  • Deviation: Nil
  • Remarks: Utilized as per object

Funding of Working Capital Requirements

  • Original Allocation: ₹400.00 lakhs
  • Funds Utilized: ₹400.00 lakhs
  • Unutilized Amount: Nil
  • Deviation: ₹141.97 lakhs temporary excess deployment (from Plant and Machinery allocation)
  • Remarks: Actual working capital deployment included ₹400.00 lakhs under stated object plus ₹141.97 lakhs temporarily utilized from Plant and Machinery allocation

General Corporate Purpose

  • Original Allocation: ₹222.91 lakhs
  • Funds Utilized: ₹222.91 lakhs
  • Unutilized Amount: Nil
  • Deviation: Nil
  • Remarks: Utilized as per object

Offer Related Expenses

  • Original Allocation: ₹267.17 lakhs
  • Funds Utilized: ₹267.17 lakhs
  • Unutilized Amount: Nil
  • Deviation: Nil
  • Remarks: Utilized as per object

Deviation Explanation

The company reported a temporary category-wise variation in utilization of IPO proceeds. Out of ₹379.00 lakhs earmarked for Purchase of Plant and Machinery, ₹131.19 lakhs was utilized towards the stated object, while ₹247.81 lakhs remained pending deployment. Pending such deployment, ₹105.84 lakhs was temporarily invested in fixed deposits with scheduled banks and ₹141.97 lakhs was temporarily utilized for interim working capital requirements. The entire ₹141.97 lakhs was made available/restored before approval of the financial statements.

Audit Committee Review

The Audit Committee reviewed the utilization of IPO proceeds, statutory auditor's observations, and management representation. The Committee noted:

  • No change in the objects of the issue
  • Matter represents temporary category-wise variation pending deployment towards Purchase of Plant and Machinery
  • ₹105.84 lakhs temporarily invested in fixed deposits and ₹141.97 lakhs temporarily utilized for working capital, both restored before financial statement approval
  • Advised management to: deploy balance amount strictly for stated objects, maintain clear audit trail and bank-wise reconciliation, avoid recurrence of cross-utilization without prior legal/compliance review, and continue transparent disclosure

Important Notes

  • No change in the objects of the issue or in the terms of any contract referred to in the Prospectus
  • Disclosure made as temporary category-wise variation in utilization pending deployment towards stated object
  • Monitoring Agency: Not Applicable
  • Shareholder Approval: Not Applicable (no proposed change in objects)