Senores Pharmaceuticals Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
SENORES · price
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Senores Pharmaceuticals has filed its quarterly statement on IPO fund utilization for Q4 FY2026 (ended March 31, 2026). The company raised Rs. 500 Crores via IPO on December 26, 2024, and has utilized Rs. 394.98 Crores so far, leaving Rs. 105.02 Crores still undeployed. The company confirms there is NO formal deviation in fund utilization as per the prospectus. However, there is an ongoing delay of Rs. 33.02 Crores in Object 1 (investment in Havix subsidiary for sterile injections manufacturing facility) due to geo-political issues affecting the Atlanta facility. Deployment of this amount has been pushed to FY2027 with management committee approval. Minor reallocations of Rs. 0.38 Crore and Rs. 0.02 Crore from debt repayment objects and Rs. 6.31 Crore from offer expenses were transferred to other uses with board approval. The statement was reviewed by the Audit Committee and approved by the Board on May 14, 2026.
No immediate shareholder concern as the company confirms no deviation in fund utilization. The delay in capital expenditure for the sterile injections facility due to geo-political factors may slightly impact future revenue growth timeline, but the company has obtained proper approvals for the revised deployment schedule.