Standard Glass Lining Technology Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Standard Glass Lining Technology Limited has filed a Reg. 32 statement confirming there is NO deviation or variation in the use of funds raised through its Pre-IPO and IPO for the quarter ended March 31, 2025. The company raised a total of INR 450.051 Crore (fresh issue of INR 250 Cr including INR 39.99 Cr Pre-IPO, plus an offer for sale of INR 200.051 Cr) and listed on January 13, 2025. Of the stated objects, INR 130 Cr earmarked for repayment of borrowings has been fully utilised, and INR 0.704 Cr has been used so far out of the INR 10 Cr allocated for machinery capex. The remaining funds for subsidiary investment (INR 30 Cr), inorganic growth (INR 20 Cr), and general corporate purposes (INR 42.24 Cr) are yet to be deployed. The Audit Committee reviewed the statement with no adverse comments, and ICRA Limited acted as the monitoring agency.
This is a routine compliance filing that confirms the company is using IPO proceeds as disclosed in its prospectus, which is mildly positive for investor confidence. The full deployment of INR 130 Cr towards debt repayment strengthens the balance sheet, while the unutilised ~INR 92 Cr+ leaves room for future growth announcements.