WE HEREBY ATTACHED THE STATEMENT OF DEVIATION OR VARIATION IN UTILIZATION OF FUNDS RAISED FOR THE HALF YEAR AND FINANCIAL YEAR ENDED ON 31 MARCH 2026.
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Solvex Edibles Limited has filed its fund utilization statement for the ₹18.87 crore (₹1886.98 lakh) raised through a Public Issue during September 22-26, 2025. The company has utilized ₹13.04 crore (₹1303.61 lakh) as of March 31, 2026, representing about 69% of the total raised amount. No deviation or variation in the use of funds has been reported. Major allocations include ₹8.31 crore for plant and machinery capex (₹3.06 crore utilized), ₹5.90 crore for repayment of borrowings (fully utilized), ₹2.79 crore for general corporate purpose (fully utilized), and ₹1.87 crore for issue expenses (₹1.29 crore utilized). The capex for plant and machinery has the largest unutilized balance of ₹5.25 crore, indicating ongoing capital expenditure deployment.
The filing is positive for shareholders as it confirms no misuse of IPO proceeds. The company is progressively deploying funds as planned, with the remaining ₹5.83 crore likely to be utilized in future periods for completing the plant and machinery capex.