Statement of Deviation or Variation for the Quarter ended 31st December, 2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
IEL Limited has filed a quarterly statement confirming there is no deviation in the use of funds raised through its Rights Issue conducted on 5th March 2025. The company raised a total of Rs. 43.17 crore (Rs. 43,17,21,894.20), with net proceeds of Rs. 42.70 crore after issue expenses of Rs. 47.66 lakh. Of the three stated objects, Rs. 9.77 crore allocated for acquiring warehouse land and Rs. 9.26 crore for general corporate purposes have been fully utilized. However, Rs. 24.14 crore earmarked for financing the construction of the warehouses remains completely unutilized as of 31st December 2025. The auditor Maark & Associates has certified the utilization, and the Audit Committee reviewed the statement on 13th February 2026.
This is a routine compliance filing and confirms the company is deploying funds broadly in line with its stated objectives. The fact that 56% of the issue proceeds (Rs. 24.14 crores for warehouse construction) are still untouched after nearly 10 months may warrant a watchful eye, though it could simply reflect the natural sequence of land acquisition preceding construction. Investors should track deployment of these funds in upcoming quarters.