Rajputana Stainless Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Rajputana Stainless Limited has filed a compliance statement confirming that there is NO deviation or variation in the utilisation of IPO proceeds for the quarter ended 31st March 2026. The company raised Rs. 178.73 Crores through its IPO (allotment date: 17th March 2026). Of this, Rs. 50.09 Crores has been utilised so far across: capital expenditure for manufacturing facility expansion in Panchmahal district (Rs. 18.57 Crores allocated), repayment of outstanding borrowings (Rs. 98.00 Crores allocated), general corporate purpose (Rs. 44.64 Crores allocated with Rs. 14.88 Crores utilised), and issue-related expenses (Rs. 17.52 Crores allocated). The statement was reviewed and noted by the Audit Committee and Board of Directors on 25th May 2026.
Positive signal for shareholders as the company confirms proper utilisation of IPO funds as per the stated objects. No deviations detected means the expansion plans and debt repayment intentions are on track.