Global Ocean Logistics India Limited has informed exchange about Statement of Deviation/Variation under Regulation 32(1), (3) of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015.
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Awaiting price reaction for this filing.
Global Ocean Logistics India Ltd has filed a quarterly statement on the use of funds raised through its Initial Public Offer, which was completed on 24 December 2025. The company raised ₹3,041.38 lakhs (~₹30.41 crore) through the IPO. Of this, ₹810.93 lakhs has been utilized so far, leaving ₹2,230.45 lakhs unutilized. Specifically, ₹306.93 lakhs was used for working capital requirements (out of ₹2,126.85 lakhs planned), ₹73.80 lakhs for general corporate purposes (out of ₹456.21 lakhs), and ₹430.20 lakhs for issue expenses (out of ₹458.32 lakhs). The company confirms there is no deviation or variation from the original objects of the issue, as the IPO only completed on 24 December 2025 and utilization is still in early stages. An auditor's certificate from Dharmesh B. Mehta & Co has been attached, and the statement has been reviewed by the Audit Committee and Board of Directors.
This is a routine post-IPO compliance filing showing funds are being deployed as per the stated objectives with no deviation. Given that only ~27% of IPO proceeds have been utilized within the first week of listing, shareholders can expect further deployment toward working capital and general corporate purposes in coming quarters. No negative impact on the stock is expected from this disclosure.