Statement of Deviation & variation for Quarter Ended December 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Riddhi Corporate Services has filed a quarterly SEBI Regulation 32 statement confirming no deviation in the use of proceeds from its 2017 IPO (₹12.35 crore raised) and 2023 preferential issue (₹7.04 crore raised). The IPO proceeds for public issue expenses (₹50.41 lakhs) are fully utilised, but large portions remain unutilized: ₹661.59 lakhs earmarked for capital expenditure, ₹300 lakhs for general corporate purposes, and ₹218 lakhs still pending for acquisitions and strategic initiatives (only ₹5 lakhs used this quarter). The preferential issue proceeds of ₹7.04 crore for general corporate use also showed zero utilisation during the quarter. The Audit Committee has reviewed the statement and confirmed there is no deviation from the originally stated objects. No monitoring agency was appointed for either issue.
This is a routine compliance filing and is largely price-neutral—shareholders can be reassured there is no misuse of funds. However, the fact that large portions of the 2017 IPO proceeds remain unutilised nearly 9 years after the raise, along with zero utilisation of the 2023 preferential issue funds, may raise concerns about slow deployment and the company's growth execution plans.