Statement of Deviation(s) or Variation(s) under Regulation 32 of SEBI (LODR) Regulations, 2015 for the quarter ended March 31, 2026.
JAINREC · price
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Jain Resource Recycling Limited, a recycling company formerly private limited, has filed a nil deviation statement for the quarter ended March 31, 2026 regarding its IPO proceeds. The company raised Rs. 12,500 million in September 2025 via a public issue comprising a fresh issue of Rs. 5,000 million and an offer for sale of Rs. 7,500 million. The Rs. 5,000 million raised through the fresh issue was allocated as follows: Rs. 3,750 million for pre-payment of outstanding borrowings, Rs. 986.43 million for general corporate purposes, Rs. 473.643 million as net proceeds, and Rs. 263.57 million for issue expenses. No deviation or variation was found in the utilisation of funds as against the objects stated in the prospectus. Both the Audit Committee and Auditors reported nil comments. The filing was signed by Director & CFO Hemant Shantilal Jain and Company Secretary Bibhu Kalyan Rauta.
No negative signal for shareholders — the company has confirmed full compliance with fund utilisation as per the IPO prospectus, with no deviations detected by the monitoring agency, audit committee, or auditors.