Divgi Torqtransfer Systems 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.
Divgi Torqtransfer Systems has filed its quarterly Regulation 32(1) statement confirming that there has been no deviation or variation in the use of funds raised through its IPO. The company raised ₹180 crores as the fresh issue portion of its ₹412.12 crore IPO back in March 2023. Independent monitor ICRA Limited is overseeing fund usage. The filing reports NIL across all deviation fields — original allocation, modified allocation, funds utilised, and amount of deviation — meaning the company is using the IPO money exactly as promised to investors at the time of listing.
This is a routine compliance filing and is neutral to slightly positive for shareholders — it confirms the company is deploying its IPO proceeds in line with what was originally disclosed, with no surprises or reallocation of funds that could raise governance concerns.