Statement of deviation / Variation is enclosed
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Awaiting price reaction for this filing.
Ahasolar Technologies has filed a compliance statement confirming that there has been no deviation or variation in the use of funds raised through its public issue. The company had raised Rs. 1,284.89 lakhs via IPO on July 17, 2023. As originally planned, the proceeds were allocated across development of a solar PV plant (Rs. 705.13 lakhs), setting up of EV charging infrastructure (Rs. 149.47 lakhs), purchase of electric vehicles (Rs. 32.50 lakhs), working capital (Rs. 240 lakhs), general corporate purposes (Rs. 195.94 lakhs), and public issue expenses (Rs. 102.29 lakhs). The Audit Committee reviewed and approved the statement at its meeting held on May 27, 2025. No monitoring agency was appointed, as it was not applicable.
This is a routine regulatory disclosure under SEBI's Listing Regulations confirming that the company has stuck to its stated IPO spending plan. For shareholders, this is a neutral-to-positive signal indicating good governance and disciplined use of public funds, with no red flags about misuse or change in purpose.