As per captioned subject, please find the Statement of Deviation/variation in utilization of funds raised through Initial Public Offer.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Solarium Green Energy Limited filed its half-yearly update on the use of IPO proceeds as required by SEBI's listing rules. The company had raised ₹105.04 crore through an SME IPO in February 2025 (54.99 lakh shares at ₹191 each). Out of the total, ₹49.14 crore has been used so far — fully spent on General Corporate Purposes (₹25.26 crore) and Issue Expenses (₹8.78 crore), while only ₹15.10 crore of the ₹71 crore earmarked for Working Capital has been deployed. The remaining ₹55.90 crore is parked in fixed deposits with banks and is intended to be used in the next quarter. The company confirmed there is no deviation or variation from the original objects stated in the prospectus, and the statement was reviewed by the Audit Committee and certified by the auditors (Abhishek Kumar & Associates).
Positive for shareholders — the company is fully compliant with its IPO objects and there is no misuse or diversion of funds. The large unutilized working capital portion (about 79% of that allocation) is sitting safely in bank FDs, suggesting disciplined deployment, though investors may watch for timely use in coming quarters to support business growth.