Northern Arc Capital Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Northern Arc Capital has filed a quarterly compliance statement under SEBI Regulation 32 confirming that there has been no deviation or variation in the use of proceeds from its Initial Public Offer (IPO) for the quarter ended June 30, 2025. The company had raised approximately Rs. 449.85 crore (net of issue expenses) through its IPO on September 23, 2024. CRISIL Ratings Limited, the appointed monitoring agency, tracks the fund usage. The statement, signed by CFO Atul Tibrewal, confirms funds are being used in line with the objects disclosed in the prospectus, and no modifications or reallocations have been made.
This is a routine positive compliance disclosure — shareholders get assurance that IPO money is being deployed as originally planned, with no misuse or diversion. Typically, such filings have no material impact on stock price but reinforce governance credibility.