Rishabh Instruments Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
RISHABH · price
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Rishabh Instruments Limited filed its quarterly statement on deviation or variation in the utilisation of IPO proceeds for the quarter and year ended March 31, 2026. The company raised ₹750 million via a public issue on September 11, 2023. A deviation has been reported: the Nashik Manufacturing Facility II expansion shows lower utilisation — only ₹235.88 million deployed against a ₹300 million allocation. General Corporate Purpose has also seen no utilisation yet (₹0 of ₹79.20 million allocated). The deviations were already approved by shareholders on September 13, 2024. Neither the Audit Committee nor the auditors raised any comments on the deviation.
The deviation is within the approved framework since shareholders sanctioned the changes. However, the ₹77.2 million General Corporate Purpose pool sitting unused warrants monitoring, especially given the quarter-end timing.