Interarch Building Solutions Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Interarch Building Solutions has filed its quarterly disclosure on the use of IPO proceeds for the quarter ended March 31, 2025. The company raised Rs. 200 crore through its IPO in August 2024, with CRISIL Ratings acting as the monitoring agency. While the filing officially states there are no deviations in fund utilization, the object-wise table shows a reallocation of around Rs. 287.9 crore from the original 'Project setup' object to manufacturing facility upgradation. As a result, the modified allocation for the new project was cut from Rs. 585.33 crore to Rs. 297.43 crore, while the allocation for upgrading the Kichha, Tamil Nadu, and Pant Nagar manufacturing facilities was raised from Rs. 192.46 crore to Rs. 432.66 crore. IT infrastructure, working capital, and general corporate purpose allocations were largely used as planned during the quarter.
This is a routine regulatory compliance filing under SEBI's Listing Regulations. The internal reallocation suggests the company is prioritizing upgrades to existing manufacturing facilities over a new greenfield project, but no shareholder value concerns are flagged as fund usage remains within the disclosed objects.