Statement of Deviation or Variation on the utilization of proceeds raised through issuance of equity shares by way of public issue

NORTHARC · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹288.00

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AI summary

Northern Arc Capital has filed a compliance statement confirming no deviation or variation in the utilization of IPO proceeds. The company raised Rs. 4,498.45 million (approximately Rs. 450 crores) through its Initial Public Offer on September 23, 2024. For the quarter ended March 31, 2026, the monitoring agency CRISIL Ratings Limited has verified that funds are being deployed as per the original objects stated in the offer document. No approval is required to vary the objects, and there are no comments requiring attention from the audit committee or auditors.

Likely market impact

This filing is a routine compliance update with no material impact on shareholders. The confirmation of proper fund utilization indicates good governance and adherence to IPO commitments, which is a positive indicator for investor confidence.