Statement of deviation or variation for the utilization of funds.
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Supertech EV Limited has confirmed that there is no deviation or variation in the use of proceeds from its Initial Public Offer (IPO) for the half year ended September 30, 2025. The company raised ₹2,989.63 Lakhs through its IPO conducted from June 25–27, 2025, by issuing 32,49,600 equity shares at ₹92 each, and got listed on the BSE SME platform on July 2, 2025. The full amount has been utilised as per the original objects: ₹1,650 Lakhs for working capital (paid to trade creditors), ₹300 Lakhs for repayment of overdraft, ₹684.25 Lakhs for general corporate purposes, and ₹352.38 Lakhs towards issue and listing expenses (out of the allocated ₹355.38 Lakhs). Only ₹3.00 Lakhs remain pending in the escrow account with ICICI Bank. The statement was reviewed by the Audit Committee on November 14, 2025, with no adverse comments from auditors.
This is a routine compliance filing confirming that the company has used its IPO money exactly as promised to investors in the prospectus, which is a positive signal of governance and fund management discipline. It should not have any material impact on the stock price but reinforces investor confidence in the company's transparency.