As per captioned subject, Please find the Statement of Deviation/ variation in utilization of Funds raised through IPO.
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Solarium Green Energy Ltd has filed a mandatory disclosure on how it is using the money from its SME IPO, which raised Rs. 105.04 crore in February 2025 at Rs. 191 per share. Out of the total, Rs. 71 crore was meant for working capital, of which only Rs. 5 crore has been used so far, with Rs. 66 crore still pending. For general corporate purposes, Rs. 24.85 crore of the allocated Rs. 25.26 crore has been spent. Issue expenses of Rs. 8.78 crore have been fully utilized. The company confirms there is no deviation from the objects stated in the prospectus, and both the audit committee and chartered accountants have flagged no concerns. As of March 31, 2025, around Rs. 66.41 crore remains unutilized, with Rs. 65.98 crore parked in fixed deposits with banks.
This is a routine regulatory disclosure showing the company is on track with its stated IPO plans, with no misuse or diversion of funds. The large unutilized balance parked in bank FDs is normal for a recently listed company and may be deployed in coming quarters for working capital needs.