Statement of Deviation and Variation for the Half year and Year ended 31 March 2026
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Ameenji Rubber Ltd has filed a statement confirming no deviation or variation in the utilization of IPO proceeds for the half year ended March 31, 2026. The company raised Rs. 3000 lakhs through its IPO on October 1, 2025, and has utilized Rs. 2500 lakhs (83.3%) as of March 31, 2026. The major utilization was towards capital expenditure for machinery modernization and new conveyor belting production line (Rs. 1226.14 lakhs of Rs. 1668.96 lakhs planned), repayment of borrowings (Rs. 595 lakhs fully utilized), general corporate purpose (Rs. 344.06 lakhs fully utilized), and issue related expenses (Rs. 334.80 lakhs of Rs. 391.98 lakhs planned). Rs. 500 lakhs remains unutilized and is temporarily invested in fixed deposits with scheduled banks. The statutory auditor M M Reddy & Co. has certified no material deviation in fund utilization.
Positive signal for shareholders as the company has properly deployed IPO funds with no deviations. The unutilized Rs. 500 lakhs being held in fixed deposits indicates prudent fund management. The machinery modernization for conveyor belting unit is progressing as planned.