Statement of deviation or variation in utilization of funds raised through IPO under Regulation 32 of SEBI (LODR) Regulations 2015
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ECOS (India) Mobility & Hospitality Ltd has filed a quarterly statement on deviation or variation in the use of IPO funds for the quarter ended September 30, 2024, as required under SEBI (LODR) Regulations 2015. The company clarifies that its IPO, which led to listing on NSE and BSE on September 04, 2024, was entirely through an offer for sale of securities, and no fresh funds were raised from the public. Since there were no fresh proceeds, the company states that the Regulation 32 filing is not applicable in this case. All fields in the deviation table — including amount raised, monitoring agency, and audit committee comments — are marked 'Not Applicable', and no deviation or variation is reported.
This is a routine compliance disclosure with no material impact on shareholders or the stock price. Investors should note that the company's IPO was an offer-for-sale only, meaning existing shareholders divested their holdings and the company itself did not receive any fresh capital from the public issue.