Key Quantitative Figures

  • Total Amount Raised in IPO: ₹2,500 million (December 31, 2024)
  • Total Deviation/Variation for Quarter: ₹123.16 crore
  • Shareholder Approval Date for Object Change: December 17, 2025

Detailed Fund Utilization Changes

Original vs. Modified Allocation (₹ in Crores)

1. Funding capital expenditure for expansion through purchase of machineries and equipment

  • Original Allocation: 36.37
  • Modified Allocation: 23.54
  • Funds Utilized: 23.54
  • Deviation: (12.83)
  • New Object: Mergers & Acquisitions, Green field Projects and Joint Ventures

2. Funding working capital requirements

  • Original Allocation: 25.29
  • Modified Allocation: 25.29
  • Funds Utilized: 25.29
  • Deviation: None

3. Investment in Material Subsidiary - Capital expenditure

  • Original Allocation: 43.89
  • Modified Allocation: 35.43
  • Funds Utilized: 35.43
  • Deviation: (8.46)
  • New Object: Mergers & Acquisitions, Green field Projects and Joint Ventures

4. Investment in Material Subsidiary - Working capital

  • Original Allocation: 44.71
  • Modified Allocation: 44.71
  • Funds Utilized: 44.71
  • Deviation: None

5. Investment in Material Subsidiary - Repayment/prepayment of borrowings

  • Original Allocation: 40.00
  • Modified Allocation: 0.00
  • Funds Utilized: 0.00
  • Deviation: (40.00)
  • New Object: Mergers & Acquisitions, Green field Projects and Joint Ventures

6. General corporate purposes

  • Original Allocation: 40.65
  • Modified Allocation: 41.23
  • Funds Utilized: 41.23
  • Deviation: 0.58

7. M&A, Joint Ventures and Green Field Projects

  • Original Allocation: 0.00
  • Modified Allocation: 61.29
  • Funds Utilized: 61.29
  • Deviation: 61.29

8. Issue expenses

  • Original Allocation: 19.09
  • Modified Allocation: 18.51
  • Funds Utilized: 18.51
  • Deviation: (0.58)

Monitoring and Oversight

  • Monitoring Agency: Care Ratings Limited
  • Audit Committee Comments: Nil
  • Auditor Comments: Not Applicable

Rationale for Deviation

The deviation/variation is due to "business dynamics, compulsions of variations in certain vendors, long-term objectives, growth through inorganic routes, Mergers and Acquisitions, Green field Projects, Joint Ventures in order to improve market access, industry diversification and shareholders value/return."