Statement Of Deviation (S) or Variation (S) for the Year Ended March 31, 2026
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Narmadesh Brass Industries Limited has filed a compliance statement confirming no deviation or variation in the use of proceeds from its SME Public Issue. The company raised Rs. 3,259 Lakhs through an IPO on January 21, 2026. The funds were deployed as planned: Rs. 1,450 Lakhs for repayment of borrowings (fully utilized), Rs. 329 Lakhs for purchase of machinery and equipment (fully utilized), Rs. 1,020 Lakhs for working capital (fully utilized), and Rs. 460 Lakhs for general corporate purpose (Rs. 455.46 Lakhs utilized, Rs. 4.54 Lakhs unutilized). Total utilization stands at Rs. 3,254.46 Lakhs with only Rs. 4.54 Lakhs remaining unutilized.
This filing is positive for shareholders as it confirms the company deployed IPO proceeds as per the stated objects without any deviation. The near-full utilization (99.86%) indicates disciplined capital deployment and adherence to promises made to investors during the IPO.