Kross Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
KROSS · price
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Kross Limited has confirmed to the exchanges that there was no deviation or variation in the use of its IPO proceeds for the quarter ended June 30, 2025. The company raised Rs 250 crore through a fresh issue in September 2024 (net proceeds of Rs 236.92 crore after issue expenses). As of June 30, 2025, the company has utilized Rs 183.53 crore out of the Rs 236.92 crore available — about 77% of net proceeds. Key utilization includes full repayment of borrowings (Rs 90 crore of Rs 90 crore allocated), 96% of general corporate purpose funds used, while capex on machinery and working capital deployment are still in progress at around 49% each. The statement has been reviewed by the Audit Committee, with no adverse comments, and India Ratings and Research is the monitoring agency.
Positive compliance signal — funds are being used exactly as disclosed in the IPO prospectus with no diversions, which should reassure investors about management discipline. Borrowings have been fully paid off from IPO money, which may improve the company's interest cost structure going forward. Remaining unutilized funds (capex and working capital) are expected to be deployed over the coming quarters.