We hereby confirm that during half year ended March 31, 2026, there is no variation or deviation in the utilisation of proceeds from IPO as per objects stated in the prospectus dated 27th ....
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Beezaasan Explotech Ltd has filed a confirmation that there is no deviation or variation in the utilisation of IPO proceeds during the half year ended March 31, 2026. The company raised Rs. 5993.40 Lacs through IPO on February 27, 2025, with net proceeds of Rs. 5233.66 Lacs after deducting share issue expenses. As of March 31, 2026, Rs. 3237.69 Lacs (62%) of the allocated funds have been utilised. The Detonating Fuse Plant has been completed and operations commenced late March 2026. Some expansion components remain pending due to regulatory approvals under Explosive Rules, 2008. Share issue expenses increased by Rs. 1.52 Lacs, which was adjusted against General Corporate Purposes allocation.
For shareholders, this is a positive confirmation that IPO funds are being deployed as per the stated objects in the prospectus. The completion of the Detonating Fuse Plant indicates progress on expansion plans, though some capital deployment is delayed due to regulatory clearances.