We hereby inform that there are no deviation(s) or variation(s) in respect of utilisation of IPO Proceeds for the Half year ended 30th Sep 2025.
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Bharatrohan Airborne Innovations has confirmed there are no deviations or variations in the use of its IPO proceeds for the half-year ended September 30, 2025. Total planned IPO proceeds stand at Rs. 3,979.29 lakhs, of which Rs. 890.88 lakhs has been utilized so far and Rs. 3,088.41 lakhs is still pending deployment. Capital expenditure on new equipment (Rs. 1,420.62 lakhs) and general corporate purposes (Rs. 661.48 lakhs) have been fully utilized, while commercial vehicle purchase is nearly complete (Rs. 220.19 lakhs of Rs. 229.19 lakhs). Working capital funding is partially deployed at Rs. 890.88 lakhs out of the planned Rs. 1,668 lakhs, with Rs. 777.12 lakhs still to be utilized. The statement is certified by statutory auditor CA Keyur Shah and reviewed by the Audit Committee on November 13, 2025.
For shareholders, this is a neutral-to-positive compliance update — funds are being used as promised in the IPO prospectus, with no red flags. However, over 77% of the IPO proceeds are still pending deployment, mainly earmarked for working capital, which could affect near-term operational scale-up visibility.