Statement of Deviation or Variation pursuant to Regulation 32 of SEBI (LODR) Regulations, 2015.
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Awaiting price reaction for this filing.
Sealmatic India has filed its half-yearly statement confirming there is no deviation or variation in the use of proceeds from its IPO, which was held on February 28, 2023 and raised Rs. 4,162.5 lakhs. As of March 31, 2025, the company has utilized Rs. 3,499.69 lakhs across six original objects — Plant & Machinery (Rs. 976.04 lakhs of Rs. 1,200 lakhs), Product Development (Rs. 249 lakhs of Rs. 300 lakhs), Marketing and Post-Sales Support (Rs. 712.15 lakhs of Rs. 1,100 lakhs), General Corporate Purpose (Rs. 446.50 lakhs, fully used), Provisions and Contingency (Rs. 400 lakhs, fully used), and Working Capital (Rs. 716 lakhs, fully used). The unutilized balance of Rs. 662.81 lakhs is parked as Fixed Deposits with a Scheduled Bank. R.R. Shah & Associates (Chartered Accountants) has independently certified that funds have been used in line with the objects stated in the prospectus.
This is a routine compliance filing with no negative implications for shareholders — funds are being deployed as originally promised, and the remaining unutilized amount is safely held in bank FDs. Slower utilization in Plant & Machinery and Marketing may be worth tracking in future quarters.