The disclosure confirms that there is no deviation or variation in the use of funds raised through the IPO for the quarter ended September 30, 2026. The statement was reviewed by the company's Audit Committee and taken on record by the Board of Directors.
Key IPO Details:
- Mode of Raising Funds: Public Issue (Initial Public Offer)
- Date of Raising Funds: October 3, 2025
- Amount Raised: ₹27.24 crore
- Monitoring Agency: Brickwork Ratings India Private Limited
- Reporting Period: Quarter ended September 30, 2026
Fund Utilization Status:
The company provided a detailed breakdown of fund utilization against originally stated objects:
1. Funding of Capital expenditure towards purchase of additional office premises at Pune
- Original Allocation: ₹8.95 crore
- Modified Allocation: ₹3.95 crore (reduced by ₹5.00 crore)
- Funds Utilized: Nil
- Remarks: Object modified by passing a Special Resolution through e-voting on March 21, 2026
2. Funding of capital expenditure towards Purchase of computers, laptops, accessories and software subscriptions
- Original Allocation: ₹2.44 crore
- Funds Utilized: ₹2.44 crore (100% utilization)
- Deviation: Nil
3. Hiring of Manpower in the Company
- Original Allocation: ₹4.18 crore
- Funds Utilized: ₹0.31 crore (7.4% utilization)
- Deviation: Nil
4. Investment in subsidiary for hiring Manpower in Telge Projects Inc
- Original Allocation: ₹4.86 crore
- Funds Utilized: Nil
- Deviation: Nil
5. General Corporate Purpose
- Original Allocation: ₹4.04 crore
- Funds Utilized: ₹4.04 crore (100% utilization)
- Deviation: Nil
6. Acquisitions and other strategic initiatives directly or through its subsidiaries
- Original Allocation: Nil
- Modified Allocation: ₹5.00 crore
- Funds Utilized: Nil
- Amount of Variation: ₹5.00 crore
- Remarks: Object modified by passing a Special Resolution through e-voting on March 21, 2026
Shareholder Approval:
The reallocation of ₹5.00 crore from "Funding of Capital expenditure towards purchase of additional office premises" to "Acquisitions and other strategic initiatives" was approved by shareholders through a Special Resolution via e-voting on March 21, 2026.
Committee Reviews:
- Audit Committee Comments: No Comments
- Auditors Comments: No Comments
The information has been made available on the company's website at https://telgeprojects.com/.