Statement of Deviation or variation under Regulation 32 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 for the quarter ended March 31, 2026.
QPOWER · price
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Quality Power Electrical Equipments Limited has filed a confirmation that there was NO deviation or variation in the utilization of IPO proceeds for Q4 FY26. The company raised ₹858.70 crore through its IPO on February 20, 2025. Of the ₹225.01 crore allocated for specific purposes, ₹207.51 crore has been utilized so far. While funds for the Mehru acquisition (₹117 crore) and issue expenses (₹22.94 crore) were fully deployed, Capital Expenditure (₹11.64 crore of ₹27.22 crore) and Inorganic Growth/GCP (₹55.93 crore of ₹61.18 crore) deployments are delayed against the prospectus timeline. The Board has resolved that the remaining unutilized funds will be fully deployed within the next two quarters. Brickwork Ratings is monitoring the utilization. The Audit Committee reviewed and confirmed no formal deviation.
This filing provides comfort to investors that IPO funds are being used for stated purposes without misuse. The timeline delays are acknowledged and appear managed, with the board committing to full utilization within two quarters. Overall, this is a positive governance signal showing compliance with SEBI regulations.