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Awaiting price reaction for this filing.
Paradeep Parivahan Ltd has filed a quarterly statement on the use of IPO proceeds as required under SEBI regulations. The company raised Rs. 44.86 crore through its IPO on 24 March 2025, with Rs. 35 crore earmarked for working capital needs and Rs. 9.86 crore for general corporate purposes. As of the quarter ended 31 March 2025, the company has utilised Rs. 0 of the raised funds, because only 7 days had passed between the IPO date and the end of the quarter. The company has confirmed there is no deviation from the originally stated objects, and plans to deploy the full amounts from 1 April 2025 onwards. The statement was reviewed by the Audit Committee and signed by Managing Director Khalid Khan.
This is a routine compliance filing with no negative signal — the company reports zero deviation or variation from its stated IPO purpose. No funds were spent only because the IPO closed very close to quarter-end, so shareholders need not worry about misuse of proceeds at this stage.