Statement of Deviation / Variation
KRN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
KRN Heat Exchanger filed its quarterly statement confirming no deviation or variation in the use of IPO funds for Q4 FY26 (quarter ended March 31, 2026). The company raised INR 341.94 crore via IPO on October 3, 2024. Fund utilization stands at: INR 233.04 crore invested in wholly owned subsidiary KRN HVAC Products for the new manufacturing facility at Neemrana, INR 75.36 crore on general corporate purposes, and INR 30.07 crore on issue expenses. All three allocation categories show utilisation close to targets with no deviations reported. The filing was reviewed by the Audit Committee and monitored by CRISIL Ratings Limited.
Positive signal for existing and prospective shareholders as the company is adhering to its stated IPO objectives. Fund deployment is proceeding as planned without material deviations, indicating proper governance and execution of stated business plans.