We hereby inform that there are no deviation(s) or variation(s) in respect of the utilization of the proceeds of the Initial public offer (IPO) of the company during the half year ended ....
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Goel Construction Company has confirmed there is no deviation or variation in the use of proceeds from its IPO, which raised Rs. 8,107.53 lakhs (gross) with allotment completed on September 5, 2025. The IPO funds were allocated across four buckets: capital expenditure on equipment and fleets (Rs. 4,174.38 lakhs allocated, Rs. 1,148.36 lakhs utilised), repayment of borrowings (Rs. 2,305.25 lakhs allocated, Rs. 74.47 lakhs utilised), general corporate purposes (Rs. 976.04 lakhs utilised, revised upward from Rs. 973.12 lakhs due to undersubscription in the employee reservation portion), and issue expenses (Rs. 651.86 lakhs allocated, Rs. 620.41 lakhs utilised). The minor increase in the GCP allocation arose because 29,200 shares in the employee quota were unsubscribed and allotted to other categories, adding Rs. 2.92 lakhs to net proceeds. The Audit Committee reviewed and approved the statement, and CRISIL Ratings Limited served as the monitoring agency.
This is a routine compliance filing confirming the company is using IPO proceeds as disclosed in the prospectus, with no major red flags. The small upward revision in GCP spending (Rs. 2.92 lakhs) is well within SEBI's 15% cap and should not concern shareholders. Investors can take comfort from the audited confirmation that funds are being deployed in line with stated objectives.