Pajson Agro India has submitted to the exchange statement of devaition or variation report under Reg 32 (3)
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Pajson Agro India submitted its half-yearly deviation report for IPO proceeds raised in December 2025. The company raised Rs. 74.45 crore through an SME IPO at Rs. 118 per share. While the headline initially stated no material deviation, the detailed annexure reveals a reallocation: issue expenses came in lower than estimated (Rs. 7.02 crore actual vs. Rs. 8.98 crore estimated), freeing up Rs. 1.96 crore that was moved to General Corporate Purposes. The capital expenditure for a second cashew processing facility in Vizianagaram remains the primary use of funds with Rs. 50.22 crore still unutilized. This reallocation was approved by the board on December 26, 2025 and by shareholders on August 26, 2025. The Audit Committee reviewed and confirmed the change, and auditors raised no objections.
The deviation is minor and properly authorized — issue expenses were over-estimated, and the savings were redirected to general corporate purposes within approved limits. The main capex for the new facility is largely intact. This is routine post-IPO reporting with no material concern for shareholders.