Pursuant to regulation 32 of SEBI (listing Obligation and Disclosure Requirements) Regulation 2015, we hereby confirm that during the quarter ended on September 30, 2025 there was no deviation ....
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Awaiting price reaction for this filing.
Sharvaya Metals Ltd has filed a quarterly compliance statement under SEBI LODR Regulation 32 for the quarter ended September 30, 2025, confirming that there has been no deviation or variation in the use of IPO proceeds from the objects stated in its red herring prospectus dated August 26, 2025. The company raised Rs. 4,900 lacs (Rs. 49 crore) via its IPO and has so far utilized Rs. 1,273.47 lacs, leaving Rs. 3,626.53 lacs unutilized. The IPO funds were earmarked for working capital, capital expenditure on civil construction and electrification, purchase of plant and machinery, and general corporate purposes. Both the Audit Committee and the Board of Directors reviewed and confirmed the utilization as satisfactory, with no deviations. The company plans to deploy the remaining Rs. 36.27 crore by March 2026.
This is a routine governance filing confirming IPO funds are being used as promised, with no red flags. However, only about 26% of IPO proceeds have been deployed since listing, so investors should watch whether the company meets its March 2026 utilization timeline. Neutral signal for the stock.