Quadrant Future Tek Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
QUADFUTURE · price
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Quadrant Future Tek Limited has filed a statement confirming that there is no deviation or variation in the utilisation of IPO proceeds for Q4 FY2026. The company raised Rs 2,900 million (approximately Rs 290 crore) through its IPO on January 10, 2025. Funds have been deployed across five categories: Issue Related Expenses (Rs 272.30 million of Rs 292.20 million allocated), Long-term Working Capital (Rs 1,495.70 million of Rs 1,497.20 million), Capital Expenditure for Electronic Interlocking System (Rs 16.50 million of Rs 243.80 million), Working Capital Loan Repayment (Rs 236.10 million of Rs 236.20 million), and General Corporate Purpose (Rs 650.60 million). CARE Ratings is the monitoring agency appointed for the IPO. Both the Audit Committee and auditors have stated no comments after their review.
This is a positive regulatory compliance filing indicating that the company is utilizing IPO funds as disclosed in its offer document. No deviations or variations were flagged, which reassures shareholders that capital is being deployed as promised. However, the low utilization (6.8%) of the Electronic Interlocking System development capex warrants monitoring in future quarters.