Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby confirm that there has been no deviation in the utilization of IPO Proceeds from the objects stated in the prospectus dated March 18, 2021. In this regard, please see enclosed Monitoring Agency Report issued by Axis Bank Limited (Monitoring Agent) for the quarter ended March 31, 2025. We request you to take the above on record.
LXCHEM · price
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Laxmi Organic Industries has filed a compliance statement under SEBI Listing Regulations confirming that the company has used its IPO proceeds (raised in March 2021) entirely in line with the objects disclosed in the prospectus — there is no deviation. Along with the confirmation, the company has submitted the quarterly Monitoring Agency Report prepared by Axis Bank Limited, which is the independent monitor overseeing how the IPO money is being spent, for the quarter ended March 31, 2025. This is a routine quarterly disclosure required by SEBI for companies that have raised money through an IPO. The filing is signed by Aniket Hirpara, Company Secretary, and is addressed to both BSE (scrip code 543277) and NSE (symbol LXCHEM).
This is a routine regulatory compliance update with no material impact on the business or stock price. It reassures shareholders that the IPO money is being spent as originally promised, but it does not contain any new financial information or strategic announcement.