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 has reported a deviation in how it used the Rs. 75 crore it raised through its September 2023 public issue. Originally, Rs. 62.18 crore was earmarked for expanding Nashik Manufacturing Facility I, but the company reallocated Rs. 30 crore of that to a new object — Expansion of Nashik Manufacturing Facility II. Shareholders had already approved this change in September 2024. For the quarter ended March 31, 2025, Rs. 8.81 crore was used toward Facility I and Rs. 8.88 crore toward Facility II, with a quarter-level deviation of Rs. 1.69 crore in the new facility. The Rs. 7.92 crore set aside for General Corporate Purposes has been fully spent (Rs. 7.72 crore). Both the Audit Committee and auditors have not raised any concerns on the deviation.
This is largely a procedural disclosure confirming that the company shifted part of its IPO money from one expansion project to another related one, with prior shareholder approval. No red flags from auditors or audit committee, so limited direct impact on the stock, though investors may want to track whether both facility expansions are completed on schedule.