Statement of Deviation or Variation for quarter and Financial year ended March 31, 2026
GSPCROP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
GSP Crop Science Limited has filed a statement confirming there is NO deviation or variation in the utilisation of IPO proceeds from the objects stated in the Prospectus. The company raised Rs. 4000 million through its IPO (Rs. 2400 million fresh issue + Rs. 1600 million offer for sale) with allotment on March 20, 2026. Of the IPO proceeds, Rs. 965 million has been utilised towards repayment of borrowings (Cash Credit, Working Capital facilities, and Tata Capital Limited Term Loan), Rs. 196.83 million towards general corporate purposes, and Rs. 107.64 million towards issue expenses. Both the Audit Committee (May 14, 2026) and Board of Directors have reviewed and confirmed there is no deviation or variation in fund utilisation. Monitoring agency CRISIL Ratings Limited was appointed for this purpose.
Positive signal for shareholders as the company has deployed IPO funds strictly according to its stated objectives without any deviation. This indicates disciplined use of capital raised and adherence to promises made in the prospectus. Investors can expect the remaining unutilised funds to be deployed as per the planned objects.