We are submitting herewith the Statement of Deviation/ Variation for the quarter ended March, 2026
MBEL · price
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M&B Engineering has submitted its mandatory quarterly statement confirming there are NO deviations or variations in the use of IPO proceeds for Q4 ended March 2026. The company raised Rs. 275 crore via IPO (allotment date 04-08-2025) and has allocated the entire amount across four objects: capital expenditure for equipment and machinery (Rs. 130.58 crore), IT software upgradation (Rs. 5.20 crore), repayment of term loans (Rs. 58.75 crore fully utilised), and general corporate purposes (Rs. 64.79 crore). As of Q4 FY2026, Rs. 14.87 crore has been utilised for capital expenditure, while IT spending remains at zero. CRISIL Ratings Limited is the monitoring agency. The company has spent approximately Rs. 137.8 crore (~50%) of the IPO funds in roughly 8 months since allotment.
No deviation means the company is deploying IPO funds as per its stated objects, which is reassuring for investors. The partial utilisation of capital expenditure funds is normal given the time needed to procure and install equipment and machinery at manufacturing facilities.