Submission of statement of Deviation and Variation for half year ended on September 30, 2025
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Awaiting price reaction for this filing.
PDP Shipping & Projects has confirmed to the BSE that there is no deviation or variation in how it has used the money raised through its IPO, compared to the purposes stated in the offer document. The company raised Rs 1,264.95 lakhs via a public issue on March 18, 2025. Of this, Rs 1,000 lakhs was earmarked for long-term working capital needs, Rs 79.95 lakhs for general corporate purposes, and Rs 185 lakhs for issue expenses. As of September 30, 2025, the company has used Rs 167.50 lakhs for working capital, Rs 38.10 lakhs for general corporate purposes, and fully utilised the Rs 185 lakhs set aside for issue expenses. The statement was reviewed and noted by the Audit Committee and Board of Directors on November 14, 2025.
This is a routine compliance filing that signals discipline in IPO fund usage and provides transparency to shareholders. No negative impact on the stock; the company is on track with its stated IPO objectives, though a significant portion of the working capital and general corporate purpose funds remain unutilised so far.