Sigma solve Limited submit their Statement of Deviation for the quarter ended March 31 2026
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Sigma Solve Limited has submitted a statement of deviation in the utilisation of IPO funds for the quarter and year ended March 31, 2026. The company raised Rs. 495.45 Lakhs via a Public Issue on October 15, 2020. Of this, Rs. 265.45 Lakhs has been utilised across Public Issue Expenses (Rs. 75.45 Lakhs), Investment in Subsidiary (Rs. 120.00 Lakhs), and Acquisitions/Strategic Initiatives (Rs. 70.00 Lakhs). The remaining unutilised amount of Rs. 31.57 Lakhs from the General Corporate Purpose allocation has been transferred to cover Public Issue Expenses. The company received shareholder approval via a Special Resolution on September 19, 2022 to vary the IPO objects for the unutilised amount.
The reallocation of unutilised IPO funds to cover Public Issue Expenses is a routine accounting adjustment already approved by shareholders. There is no material change to the overall use of IPO proceeds and it should not significantly impact the stock.