This is to confirm that there are no Deviation or Variation in the Utilization of proceeds raised through Public Issue from the objects stated in the offer document.
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Awaiting price reaction for this filing.
LGT Business Connextions Limited has confirmed to BSE that there is no deviation or variation in the use of funds raised through its Initial Public Offering from the original objects stated in the offer document. The company raised Rs. 21.92 crores (net of issue expenses) through the IPO on August 22, 2025. Out of the total, Rs. 10.43 crores was allocated for capital expenditure (corporate offices, cloud ERP and customer care centre), Rs. 7.70 crores for working capital, and Rs. 3.79 crores for general corporate purposes. As of September 30, 2025, the company has utilised Rs. 1.10 crores for capex, Rs. 0.27 crores for working capital, and Rs. 3.24 crores for general corporate purposes. Infomerics Ratings Limited is acting as the monitoring agency, and neither the audit committee nor the auditors have raised any comments.
This is a routine compliance filing under SEBI regulations confirming proper use of IPO funds, which is a neutral to mildly positive signal for investors as it demonstrates fund management discipline. Shareholders can take comfort that proceeds are being deployed as promised in the offer document, though capex utilisation at just 10.5% of allocation suggests slower-than-planned deployment of the larger capital expenditure portion.