Regulation 32 Statement - Quarter ended 31st March 2026.
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IEL Ltd has filed a Regulation 32 statement confirming no deviation in the use of proceeds from its Rights Issue raised on 5th March 2025 amounting to ₹4317.22 lakhs. The funds were allocated for three purposes: acquiring land for warehouse construction (₹977 lakhs, fully utilized), financing warehouse construction (₹2414.31 lakhs, not yet utilized), and general corporate purposes (₹925.91 lakhs, fully utilized). The Audit Committee reviewed and approved this statement on 23rd May 2026, with no comments or deviations reported. This is a routine compliance filing confirming proper deployment of rights issue proceeds as per the Letter of Offer dated 17th January 2025.
This filing confirms proper fund utilization with zero deviation, which is a positive compliance indicator for shareholders. The warehouse construction funds remain unutilized but this appears to be a timing matter rather than a change in usage plan.