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 raised Rs. 75 crore through a public issue in September 2023. In its Reg. 32 filing for the quarter ended June 30, 2025, the company confirmed a deviation in the use of these funds. Originally, Rs. 62.18 crore was earmarked for expansion of Nashik Manufacturing Facility I. This has now been revised to Rs. 32.18 crore, with Rs. 30 crore redirected to a new object — Expansion of Nashik Manufacturing Facility II. The reallocation was approved by shareholders on September 13, 2024. As of Q1 FY26, Rs. 12.47 crore had been utilised for Facility I and Rs. 11.40 crore (with a quarter deviation of Rs. 2.52 crore) for Facility II. The Audit Committee and auditors raised no objections.
This is a reallocation of IPO proceeds between two manufacturing expansion projects, already approved by shareholders, so the deviation is procedural rather than negative. Investors should note that only a portion of the originally planned Facility I capex is being deployed there, with funds shifted to a second facility — which could affect timelines or scale of the original expansion plan.