We would like to inform that there has been no deviation in the utilization of IPO proceeds
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LGT Global Hospitality Limited (formerly LGT Business Connextions Limited) has filed a confirmation with BSE stating there is no deviation in the use of IPO proceeds raised through its public issue dated August 22, 2025. The company raised Rs. 21.92 crores net of issue expenses. For the quarter ended March 31, 2026, the company has utilized Rs. 2.45 crores towards capital expenditure (corporate offices, cloud ERP, customer care centre), Rs. 6.73 crores for working capital, and Rs. 3.68 crores for general corporate purposes. No deviations were found in any of the three object categories. The monitoring agency Infomerics Ratings Limited is overseeing the fund utilization. The board has noted that proceeds will be fully utilized within 12 months from the date of receipt.
This is a routine compliance filing indicating proper use of IPO funds as per the offer document. No shareholder action or concern is warranted as the fund utilization is on track with no deviations reported.