We hereby enclosing the copy Statement of deviation and variation of the company as on 31st March, 2025.
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Awaiting price reaction for this filing.
H.M. Electro Mech has submitted its quarterly statement on the use of funds raised through a public issue on 31 January 2025, totalling ₹2,774.40 lakhs (~₹27.74 crore). For Q4 FY25 (quarter ended 31 March 2025), the company utilized ₹1,208.71 lakhs towards working capital, ₹296.00 lakhs for general corporate purposes, and fully utilized ₹272.46 lakhs earmarked for public issue expenses. There is no deviation or variation from the originally stated objects of the fund raise, and no monitoring agency was applicable. The Audit Committee and auditors had no comments on the utilization.
This is a routine SEBI compliance filing confirming that IPO proceeds are being deployed as promised to investors, with no misuse or diversion. The partial utilization of working capital and general corporate purpose funds indicates ongoing deployment, which is neutral to mildly positive for shareholder confidence as it shows the company is following its stated capital allocation plan.