Statement of Deviation or Variation in utilization of public issue proceeds pursuant to Regulation 32 of SEBI (LODR) Regulations, 2015 for the half year and financial year ended March 31, 2026.
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CapitalNumbers Infotech Ltd has filed its fund utilization statement for IPO proceeds raised in January 2025 (listed on BSE SME Platform). The company raised ₹8,468.60 lakhs through a combination of fresh issue and offer for sale of 32,20,000 equity shares at ₹10 face value and ₹253 premium. As of March 31, 2026, only ₹2,674.70 lakhs (31.6%) has been utilized, with ₹6,934.12 lakhs remaining unutilized and invested in fixed deposits and bank accounts. The auditors flagged an accounting error where gross issue expenses (including OFS portion) were incorrectly charged to Securities Premium instead of net issue expenses; the OFS portion of ₹1,140.22 lakhs was recovered from selling shareholders in November 2025. The company plans to modify the relevant object clause to address this discrepancy.
The significant unutilized balance suggests slower-than-expected deployment of IPO funds, which may concern investors expecting aggressive capital deployment. The accounting correction for OFS expenses is a positive cleanup but indicates initial bookkeeping errors that required retroactive adjustment.