Statement of Deviation & Variation for the half year ended on March 31, 2025
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Awaiting price reaction for this filing.
New Swan Multitech Ltd has confirmed that the Rs. 33.11 crore raised through its Initial Public Offer (allotted on January 16, 2024) has been fully utilized by March 31, 2025, with no deviation or variation from the stated objects. The funds were deployed across four categories: Rs. 3.88 crore for purchasing machinery at the Raian, Ludhiana manufacturing unit, Rs. 8 crore for repaying borrowings, Rs. 15.5 crore for working capital needs, and Rs. 5.73 crore for general corporate purposes including IPO expenses. A minor reallocation of Rs. 2.35 lakh from the capital expenditure head to general corporate purposes was made. Both the Audit Committee and auditors had no comments, and the company stated that no further Reg 32 filings will be required going forward.
This is a routine compliance update confirming orderly use of IPO money with no misuse or diversion, which is mildly positive for shareholder confidence. Investors should note the company has closed this reporting chapter on its IPO funds and there is no outstanding deployment to track.