Jain Resource Recycling Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
JAINREC · price
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Jain Resource Recycling Limited, listed on NSE and BSE, has filed its quarterly fund utilisation statement for the IPO proceeds raised on September 26, 2025. The company raised Rs. 12,500 million total (Rs. 5,000 million fresh issue + Rs. 7,500 million offer for sale). As of March 31, 2026, the company confirms NO deviation or variation in the use of IPO funds from the objects stated in the prospectus. Funds deployed include Rs. 3,750 million for pre-payment of borrowings, Rs. 986.43 million for general corporate purposes, and Rs. 222.73 million towards issue expenses. The monitoring agency is CRISIL Ratings Limited, and both the Audit Committee and Auditors have no comments, indicating clean utilisation of funds.
This is a positive confirmation for shareholders, showing the company is deploying IPO proceeds exactly as committed in the prospectus without any deviation. This reduces risk of fund mismanagement and aligns with stated growth plans.