Deepak Builders & Engineers India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Deepak Builders & Engineers India has filed a quarterly statement confirming that IPO proceeds have been used as per the original objects mentioned in the prospectus, with no deviations or variations. The company raised Rs. 2,600.43 million (Fresh Issue and OFS) in October 2024, and out of the gross proceeds of Rs. 2,172.10 million (net of OFS), it has utilized Rs. 2,170.76 million by end of December 2025. All three stated objects — repayment/prepayment of borrowings (Rs. 300 million), working capital funding (Rs. 1,119.56 million), and general corporate purposes (Rs. 542.65 million) — have been fully deployed. Only Rs. 1.34 million remains unutilized and is parked in bank accounts, with the issue expenses line showing a minor saving versus the original estimate.
This is a routine compliance filing that confirms disciplined use of IPO money with no misuse or diversion of funds, which is mildly positive for shareholder confidence. The negligible unutilized amount (Rs. 1.34 million) and full deployment of all stated objects suggest the IPO purpose has been largely fulfilled with no material impact on the stock price expected.