Jeena Sikho Lifecare Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Jeena Sikho Lifecare Limited has filed a regulatory disclosure confirming that its IPO proceeds (totalling Rs. 5,550 lakhs raised in April 2022 from the issue of 37 lakh shares at Rs. 150 each) have been fully utilised, but with deviations from the originally stated purposes. The company reallocated Rs. 2,400 lakhs from the original 'Marketing & Sales Promotion' and 'Working Capital' heads toward purchasing land for setting up/building hospitals and clinics. This reallocation was approved by shareholders through an Extraordinary General Meeting on December 31, 2022, and reviewed by the Audit Committee. Other planned uses — loan repayment (Rs. 635 lakhs), general corporate purposes (Rs. 1,045 lakhs), and issue expenses (Rs. 60 lakhs) — remained unchanged.
For shareholders, this signals a strategic pivot by Jeena Sikho Lifecare toward building physical hospital and clinic infrastructure, prioritising long-term asset creation over brand marketing and short-term working capital needs. Since the deviation was formally approved by shareholders and the full amount has been deployed as per the revised plan, the immediate risk is limited, though investors should track execution progress on the hospital/clinic projects.