Statement of Deviation & Variation under Regulation 32 of SEBI (LODR), 2015 for the half year ended September 30, 2025.
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Awaiting price reaction for this filing.
Swastika Castal Ltd has confirmed that there has been no deviation or variation in the use of funds raised through its IPO dated July 28, 2025, which raised a total of ₹1,406.60 lakhs. As of September 30, 2025, the company has utilised ₹1,120.51 lakhs out of the total proceeds. Working capital requirements (₹550 lakhs), general corporate purposes (₹159.68 lakhs), and public issue expenses (₹196.92 lakhs) have been fully utilised. However, only ₹213.91 lakhs out of the ₹500 lakhs earmarked for capital expenditure on plant & machinery and construction of shed & building has been spent, leaving ₹286.09 lakhs unspent, which the company plans to deploy in the next half year. The Audit Committee reviewed the statement and had no comments.
The filing is a routine compliance disclosure confirming proper use of IPO funds with no major red flags. The unspent ₹286.09 lakhs for capex is normal for an early-stage project and not a concern unless deployment gets significantly delayed in future reports.