Statement of Deviation and variation for the half year ended 30th September, 2025
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Super Iron Foundry Ltd has disclosed how it used the Rs. 68.05 crore raised through its March 2025 IPO. The full Rs. 29 crore earmarked for working capital has been deployed. The company repaid slightly more in borrowings than planned—Rs. 16.73 crore versus the Rs. 16 crore target—with the extra Rs. 72.5 lakh adjusted from the general corporate purposes budget. Issue expenses landed higher at Rs. 9.31 crore compared to the original Rs. 7.81 crore estimate, with the gap again absorbed by reducing the general corporate purposes spend to Rs. 13.01 crore. The Audit Committee reviewed the deviations on November 14, 2025, and classified them as part of normal business operations, so no shareholder approval was needed.
These are small reallocations between budget heads with no change to the stated purpose of IPO funds. Transparent disclosure and Audit Committee sign-off mean there is no material governance concern, and the stock is unlikely to react meaningfully.