Innovision Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
INNOVISION · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Innovision Limited has filed its annual statement confirming the utilization of IPO funds raised through its Initial Public Offer on 23rd March 2026. The company raised gross proceeds of Rs. 2,550 Million with net proceeds of Rs. 2,097.99 Million. Out of the allocated funds, Rs. 510 Million has been utilized for repayment/prepayment of borrowings, while Rs. 1,190 Million allocated for working capital and Rs. 397.99 Million for general corporate purposes remain unused as of 31st March 2026. The filing explicitly states there is no deviation or variation in the use of funds raised, and CRISIL Ratings Limited is the monitoring agency. Only Rs. 118 was spent on bank charges during the quarter.
The confirmation of no fund utilization deviation is reassuring for shareholders as it indicates the company is adhering to its stated IPO objectives. However, the significant portion of funds (approximately 76%) still unused suggests the company is in the early stages of deployment, which investors should monitor in future filings.