Prostarm Info Systems Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
PROSTARM · price
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Awaiting price reaction for this filing.
Prostarm Info Systems has filed its Q1 FY2025-26 Monitoring Agency Report, prepared by Acuité Ratings & Research, covering how the company is using money raised from its May 2025 IPO. The IPO brought in INR 168 Cr gross (INR 144.94 Cr net after expenses). So far, INR 60.07 Cr has been deployed — INR 42.11 Cr for working capital needs and INR 17.96 Cr for repaying outstanding borrowings. The remaining INR 84.87 Cr sits in fixed deposits across HDFC Bank, Axis Bank, and ICICI Bank, earning interest between 5.50% and 6.45%. Funds earmarked for acquisitions (INR 12.48 Cr) and general corporate purposes (INR 42 Cr) have not yet been spent. The Monitoring Agency confirmed no deviation from the stated IPO objects and no red flags.
This is a routine, compliance-positive filing. Parking unutilized IPO money in bank FDs shows prudent cash management rather than reckless spending. No negative signals for shareholders — the report is largely procedural and should not move the stock price.