Please find enclosed herewith Statement of Deviation and Variation in respect of utilization of funds raised through preferential issue of equity shares for the quarter ended December 31, 2025
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Ironwood Education Ltd filed a quarterly compliance statement confirming no deviation or variation in the use of funds raised through a preferential issue of equity shares. The company raised Rs. 2.08 crore on February 26, 2025, by allotting 5,77,000 shares to public investors, against an originally authorized plan of up to 11,18,000 shares worth Rs. 4.02 crore. Since only a portion of the authorized shares were allotted, the allocation across objects was proportionately reduced. Of the Rs. 2.08 crore raised, Rs. 1.30 crore was used for future growth, business expansion, loans/investments in subsidiaries, and repayment of borrowings; Rs. 38.71 lakh for working capital; and Rs. 38.71 lakh for general corporate purposes. The Audit Committee reviewed the statement on February 13, 2025, and confirmed that the funds have been utilized in line with the stated objects.
This is a routine regulatory compliance filing with no negative implications for shareholders. It reassures investors that the company is using the money raised exactly as promised, with no diversion of funds. The proportionate reduction in allocations is purely because fewer shares were issued than originally authorized, not due to any change in purpose or misuse.