No Deviations or Variations in respect of the utilisation of IPO Proceeds
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Popular Foundations Ltd has filed a compliance statement confirming that there are no deviations or variations in the utilization of IPO proceeds during the half year ended March 31, 2026. The company raised Rs. 1986.90 Lakhs (approximately Rs. 19.87 crore) through its IPO on September 20, 2024. All funds have been fully deployed across the four stated objects: repayment of borrowings (Rs. 494 Lakhs), working capital funding (Rs. 1,186 Lakhs), general corporate purposes (Rs. 108.21 Lakhs), and issue expenses (Rs. 168.69 Lakhs). The unutilized amount stands at zero, indicating complete deployment of IPO proceeds as per the offer document.
This is a positive signal for shareholders as it confirms the company has deployed IPO funds exactly as promised without any deviations. Full utilization suggests disciplined capital deployment and adherence to stated business objectives.