Compliance under Reg. 32(1),(3) of SEBI(LODR)Regulations, 2015
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Awaiting price reaction for this filing.
Oval Projects Engineering Ltd has filed a compliance declaration confirming that there is no deviation or variation from the objects stated in its IPO Prospectus in the use of proceeds raised. The company had issued 54,99,200 equity shares through its Initial Public Offer, which were allotted on September 2, 2025, and listed on the BSE on September 4, 2025. This declaration covers the half-year ended September 30, 2025, and is submitted in line with SEBI's Master Circular dated November 11, 2024. The filing is signed by Managing Director Goutam Debnath (DIN: 06923261). Since no deviation is reported, a separate statement of deviation is not applicable for the company.
This is a routine, positive compliance disclosure that reassures shareholders that IPO funds are being deployed as originally promised, with no governance red flags. It is unlikely to have a material impact on the stock price.