Disclosure of Statement of Deviation and Variation under Regulation 32 of SEBI LODR 2015.
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H.M. Electro Mech has filed its quarterly compliance statement under SEBI LODR Regulation 32, reporting the use of funds raised through a public issue on January 31, 2025. The company raised ₹2,774.40 lakhs in total, with allocations of ₹2,100 lakhs for working capital, ₹401.94 lakhs for general corporate purposes, and ₹272.46 lakhs for public issue expenses. A minor deviation of ₹21.68 lakhs was reported in the working capital category, where ₹2,078.32 lakhs was utilized against the ₹2,100 lakhs allocated. The general corporate purpose and public issue expenses categories were fully utilized as per the original plan. The audit committee and auditors have no comments on the deviation.
The deviation is very small (~0.78% of total funds raised) and appears routine. Shareholders need not worry as funds are being deployed broadly in line with the disclosed objects, with no changes to the original purpose or shareholder-approved terms.