Submission of Statement of Deviation or Variation for the quarter and year ended 31st March, 2026
JKIPL · price
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Jinkushal Industries has submitted its quarterly statement confirming no material deviation in the utilization of IPO proceeds for the quarter and year ended 31st March 2026. The company raised Rs. 11,615.45 Lakhs via IPO (Fresh Issue: Rs. 10,454.40 Lakhs + Offer for Sale: Rs. 1,161.05 Lakhs) in September-October 2025. The funds were deployed across three objects: Working Capital Requirements (Rs. 7,267.50 Lakhs allocated, Rs. 7,245.00 Lakhs utilized with Rs. 23 Lakhs remaining), General Corporate Purposes (Rs. 2,142.00 Lakhs allocated, Rs. 2,149.00 Lakhs utilized), and Offer Expenses (Rs. 1,045.00 Lakhs allocated, Rs. 1,061.00 Lakhs utilized). Minor variances were observed in GCP and Offer Expenses (over by Rs. 7 Lakhs and Rs. 16 Lakhs respectively), but all deviations remain within the permissible 10% threshold. CARE Ratings Limited acted as the Monitoring Agency. The Audit Committee reviewed and the Board took the statement on record on 29th May 2026. Statutory auditors Singhal & Sewak Chartered Accountants provided a limited assurance certificate confirming proper utilization.
The filing is positive for shareholders as it confirms the company deployed IPO funds largely as promised in the prospectus. The absence of material deviations and third-party monitoring agency verification provides transparency and reduces concerns about fund mismanagement, which is especially important for a recently listed company.