Statement of Utilisation of proceeds from Initial Public Offering for the Half Year Ended March 31, 2025
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Subam Papers Ltd has filed a compliance report on the use of funds raised through its Initial Public Offering (IPO), as required under SEBI Listing Regulations. The company raised a total of INR 9,370.50 Lakhs (approximately ₹93.7 crore) through the IPO. Out of this, INR 845.84 Lakhs were used for issue-related expenses, INR 7,500.00 Lakhs were invested in its wholly owned subsidiary (Subam Paper and Boards Private Limited) for capital expenditure requirements, and INR 1,024.66 Lakhs were used for general corporate purposes. The entire IPO proceeds have been fully utilized with Nil unutilized amount as of March 31, 2025.
This is a positive compliance disclosure for shareholders, confirming that the company has deployed IPO funds exactly as promised in the offer document with no deviations. The heavy investment in the subsidiary's capex signals upcoming capacity expansion, which could drive future revenue growth, though execution risk remains.