Statement of Deviation or Variation in Utilization of funds raised for the period ended on March 31,2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rajesh Power Services filed a compliance statement confirming there has been no deviation or variation in the use of funds raised through its IPO, which was allotted on November 28, 2024. The IPO raised a total of Rs. 160.47 crore, comprising a fresh issue of Rs. 93.47 crore (27.9 lakh equity shares) and an offer for sale of Rs. 67 crore (20 lakh shares), and was listed on the BSE SME platform. After setting aside Rs. 15.50 crore for issue-related expenses, Rs. 77.97 crore was earmarked for specific purposes. Of this, Rs. 30 crore for additional working capital and Rs. 22.86 crore for general corporate purposes have been fully utilised, while the entire Rs. 25.11 crore allocated for capital expenditure remains unutilised as of March 31, 2025.
The no-deviation confirmation is a positive governance signal, assuring shareholders that IPO proceeds are being used as originally promised. However, the complete non-deployment of the Rs. 25.11 crore capital expenditure allocation may prompt investor questions about the company's capex execution timeline and deployment plans for the remaining funds.