Please find attached a Statement of Deviations or Variations for half year and year ended 31.03.2025
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Awaiting price reaction for this filing.
L.K.Mehta Polymers has filed a regulatory statement confirming there were no deviations or variations in how it used the money raised from its IPO. The company raised Rs. 7.38 crore through the public issue on 21 February 2025. As of 31 March 2025, it had used Rs. 2.36 crore, all of it towards funding the working capital requirements of the company as originally stated in the offer document. The remaining unutilised amount of Rs. 5.02 crore is parked in a fixed deposit with HDFC Bank. During FY 2024-25, the company spent Rs. 23.55 lakh on IPO expenses and Rs. 212.43 lakh on raw materials. The statement was reviewed by the Audit Committee and Board of Directors on 30 May 2025 and certified by statutory auditors DCJ & Associates.
This is a routine compliance filing and confirms that IPO money is being used as promised to shareholders. No negative signals for investors, though only about one-third of the IPO funds have been deployed so far, with the rest safely parked in a bank fixed deposit.