Statement of Deviation or variation in the utilization of funds raised under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 for the financial year ....
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Shining Tools Limited has filed its IPO fund utilization report for the financial year ended March 31, 2026. The company raised ₹17.10 crores through a Fixed Price SME IPO on November 14, 2025. Of the total proceeds, ₹16.92 crores (99%) has been utilized while ₹17.83 lakhs remains unutilized. The funds were deployed as planned: ₹8.89 crores for plant and machinery (Carbide Precision Tools), ₹3.85 crores for working capital, ₹2.48 crores for general corporate purposes, and ₹1.70 crores for IPO expenses. The company has explicitly stated there is no deviation in the utilization of funds, and the unutilized balance is held in short-term fixed deposits pending deployment.
The filing indicates proper fund deployment in line with the IPO objectives, which is a positive signal for shareholders. The small unutilized amount (₹17.83 lakhs or ~1% of proceeds) is minimal and held in bank deposits, suggesting no immediate cause for concern.