Submission of Statement of Deviation or Variation in the Utilization of IPO Proceeds from the Objects stated in the Prospectus for the Quarter ended 31.03.2026.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bhavik Enterprises Ltd has filed its Q4 FY2026 statement confirming NO deviation or variation in the utilization of IPO proceeds of Rs. 5460.18 Lakhs raised in September 2025. The company raised Rs. 4750 Lakhs for working capital requirements and Rs. 710.18 Lakhs for general corporate purposes. As of March 31, 2026, Rs. 2665.68 Lakhs has been utilized, representing about 49% deployment. The unutilized Rs. 26.65 crores was held as Fixed Deposits with Bank of Baroda, with subsequent payments for working capital made from HDFC Bank Current Account. An auditor certificate from M Parashar & Co. confirms the funds have been utilized in accordance with stated objects. Monitoring is done by Infomerics Valuation and Rating Limited.
No deviation reported is a positive signal indicating proper fund deployment as per prospectus. However, with only 49% utilization after 6 months, investors should monitor pace of deployment for working capital generation.