Non-applicability of Statement for Deviation or Variation under Regulation 32 of the SEBI (Listing Obligations and Discloser Requirements ) Regulations, 2015
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Awaiting price reaction for this filing.
Nivaka Fashions Ltd has informed BSE and MSEI that there has been no deviation or variation in the use of funds raised from its Initial Public Offering (IPO). Under SEBI's Regulation 32, companies must file a deviation statement if IPO proceeds are used differently from the originally stated purpose. Since the company has used the proceeds as planned, the deviation statement is not applicable to it. This is a routine compliance filing submitted on April 22, 2025, with no specific financial numbers disclosed.
This is a routine regulatory compliance filing with no material impact on shareholders or the stock price. It simply confirms that the company has utilised its IPO funds in line with the stated objectives, indicating disciplined fund management.