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Desco Infratech has sent a postal ballot notice to shareholders to approve a change in the use of Rs. 168.04 lakhs of IPO proceeds originally earmarked for purchasing machinery but left unspent. The company raised Rs. 3,075 lakhs (net Rs. 2,689.60 lakhs) from its IPO and has already fully utilised funds for its Surat corporate office (Rs. 104.29L), working capital (Rs. 1,800L), and general corporate purposes (Rs. 617.27L). The board now wants to reallocate the unused machinery amount to working capital, citing newly secured projects and contract opportunities. E-voting runs from November 19, 2025 to December 18, 2025, with results expected by December 20, 2025.
The total IPO amount raised stays the same—only the planned use is being shifted. For shareholders, this means existing capacity (machinery) is deemed sufficient for now, and fresh working capital should support execution of new contracts and near-term revenue. However, deferring machinery capex signals that near-term capacity expansion plans are on the back burner.