Rubicon Research Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
RUBICON · price
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Rubicon Research Limited disclosed a deviation in the utilisation of its IPO proceeds for the quarter ended March 31, 2026. The company raised INR 5,000 million via IPO in October 2025, with planned utilisation of INR 4,712.74 million. As of March 31, 2026, only INR 3,236.46 million (about 69%) has been deployed, leaving INR 1,476.28 million unutilised. The Board has approved extending the deployment timeline by one year to March 31, 2027. For debt repayment, INR 2,646.41 million of INR 3,100 million allocated has been used, while only INR 590.05 million of INR 1,612.74 million for acquisitions and corporate purposes has been deployed. The delay is attributed to ongoing bank negotiations for debt repayment terms and careful vetting of strategic investment opportunities.
The unutilised IPO proceeds represent about 30% of the planned deployment, suggesting slower-than-expected progress on identified uses. The extension indicates the company is being cautious with capital deployment, possibly waiting for better opportunities or favourable debt repayment terms. This is a routine regulatory disclosure but warrants monitoring for timely deployment.