We submit herewith Statement of Deviation & Variation in Utilization of funds under regulation 32 of the SEBI(LODR) Regulations, 2015 for the half-year ended on 30th September, 2025.
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Cryogenic OGS Ltd has filed its half-yearly statement on the use of IPO funds as required by SEBI rules. The company had raised ₹17.76 crore through its Initial Public Offer on 10 July 2025. The funds were originally earmarked for three purposes: Working Capital Requirements (₹1,150 lakhs), General Corporate Purpose (₹396.47 lakhs), and Issue-related expenses (₹230.13 lakhs). The company has confirmed there is no deviation or variation in how the money is being used. Both the Audit Committee and the auditors reviewed the statement and had no comments or concerns. The filing was reviewed at the board meeting held on 16 October 2025.
This is a routine compliance filing with no negative signal — funds raised from the IPO are being used as originally planned. No red flags for shareholders; the company's stated disclosure suggests orderly deployment of the IPO proceeds.