We wish to inform you that pursuant to Regulation 32 of SEBI(LODR) Regulations, 2015 we are providing that there is no deviation or variation in utilization of funds raised through Public ....
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Awaiting price reaction for this filing.
Shreenath Paper Products has confirmed to BSE that there has been no deviation or variation in the use of funds raised through its public issue, as reviewed by the Audit Committee on May 30, 2025. The company raised Rs. 2,336.40 lakhs through an IPO of 53,10,000 equity shares at Rs. 44 per share, listed on the BSE SME platform on March 5, 2025. As of March 31, 2025, of the total Rs. 2,336.40 lakhs raised, only Rs. 830 lakhs had been utilized — Rs. 830 lakhs out of Rs. 1,800 lakhs earmarked for incremental working capital, while Rs. 287.16 lakhs for general corporate purposes and Rs. 249.24 lakhs for issue expenses remain largely untouched. This means about Rs. 1,506.40 lakhs (roughly 64% of the IPO proceeds) is still parked as unutilized funds.
Positive compliance signal — the company is using IPO money as promised. However, the heavy unutilized portion (especially for working capital and general corporate purposes) may raise questions about deployment speed and earnings potential from the fresh capital. Stock price impact is likely neutral unless deployment accelerates.