Statement of deviation for the quarter ended 31st March 2026.
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Shipwaves Online Ltd has filed its quarterly statement on IPO fund utilization for Q4 FY2026 (ended March 31, 2026). The company raised Rs. 56.35 crore through its IPO, which was allotted on December 15, 2025 and listed on December 17, 2025. The funds were allocated across five objects: working capital (Rs. 17.13 crore), investment in subsidiary (Rs. 10 crore), repayment of borrowings (Rs. 15 crore), general corporate purposes (Rs. 8.45 crore), and issue expenses (Rs. 5.77 crore). The Audit Committee reviewed the utilization on May 27, 2026, and confirmed there is NO deviation in the use of IPO proceeds as per the prospectus dated December 4, 2025. CARE Ratings Limited acted as the monitoring agency.
This is a routine compliance filing with a positive signal — the company has deployed IPO funds as promised without any deviation, which is reassuring for IPO investors. The stock is unlikely to see any reaction as the filing confirms proper fund management.