Statement of Deviation & Variation as on March 31, 2026.
DCXINDIA · price
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DCX Systems Ltd has filed a quarterly statement confirming there is NO deviation or variation in the utilization of proceeds from both its Initial Public Offer (IPO) and Qualified Institutional Placement (QIP). The IPO (November 2022) raised Rs. 400 crore with net proceeds of Rs. 373.03 crore, of which Rs. 335.53 crore has been utilized across repayment of borrowings (Rs. 110 crore), working capital funding (Rs. 160 crore), investment in subsidiary Raneal Advanced Systems (Rs. 19.80 crore), and general corporate purposes (Rs. 45.73 crore). The QIP (January 2024) raised Rs. 500 crore with net proceeds of Rs. 486.65 crore, of which Rs. 209.72 crore has been utilized primarily for investment in subsidiary NIART Systems Ltd (Rs. 209 crore) and general corporate purposes (Rs. 0.72 crore). The Audit Committee reviewed and approved the statement on May 27, 2026, with no comments raised.
The confirmation of zero deviations in fund utilization indicates proper adherence to stated objectives, which is reassuring for investors and demonstrates good governance in capital deployment.