Pursuant to Regulation 32 of SEBI (LODR) Regulations , 2015 we hereby submit the Declaration pertaining to Statement of Variation and Deviation for the period ended 30 September 2025
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Awaiting price reaction for this filing.
Nexxus Petro Industries has filed a Regulation 32 statement confirming there is no deviation or variation in the use of funds raised through its IPO. The company raised Rs. 19.42 crore via a fresh issue in September-October 2024, with proceeds earmarked for working capital (Rs. 16 crore), general corporate purposes (Rs. 1.49 crore), and issue expenses (Rs. 1.94 crore). As of 30 September 2025, working capital funds and issue expenses have been fully utilized, while Rs. 1.44 crore of the general corporate purpose allocation has been used, leaving just Rs. 4.34 lakhs unutilized. The Audit Committee reviewed and accepted the statement at its 12 November 2025 meeting, with no comments or qualifications noted.
A clean report with no deviation is a neutral-to-mildly-positive signal — it shows the company is deploying IPO proceeds in line with what was promised to investors at the time of listing, with only a negligible residual amount pending utilization. No material impact on shareholders is expected from this disclosure.