R K Swamy Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
RKSWAMY · price
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Awaiting price reaction for this filing.
R K Swamy Limited has submitted a quarterly compliance statement confirming there is no deviation or variation in the use of its IPO proceeds for the quarter ended March 31, 2025. The company had raised Rs. 4,235.60 million through its IPO in March 2024 (comprising a fresh issue of Rs. 1,730.00 million and an offer for sale of Rs. 2,505.60 million). Of the Rs. 1,563.25 million allocated to identifiable objects, around Rs. 1,002.52 million (~64%) has been utilised so far. Working capital (Rs. 540 million) and general corporate purposes (Rs. 362.62 million) are fully utilised, IT infrastructure and new CEC/CATI setup are partially utilised, while the DVCP Studio allocation of Rs. 109.85 million has seen no utilisation at all. The statement was reviewed by the Audit Committee on May 20, 2025 and taken on record by the Board on May 21, 2025, with CRISIL Ratings Limited acting as the monitoring agency.
This is a routine compliance filing with no negative flag from the auditor or audit committee, which is mildly reassuring for shareholders. However, the slow pace of deployment — especially the untouched DVCP Studio funds — could be a minor watchpoint for investors expecting timely use of IPO money as promised in the prospectus.