Syrma Sgs Technology Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Awaiting price reaction for this filing.
Syrma SGS Technology has filed its quarterly Reg. 32 compliance statement for the quarter ended June 30, 2025, confirming that IPO proceeds are being used as originally disclosed, with no deviations or variations reported. The company had raised ₹840.13 crore through its IPO in August 2022 (₹766 crore fresh issuance and ₹74.13 crore offer for sale), monitored by CRISIL Ratings. Of the ₹403 crore allocated for R&D facility and manufacturing expansion capex, ₹317.21 crore has been utilized so far, with the balance to be deployed per the proposed schedule. Working capital funds (₹131.58 crore) and general corporate purpose funds (₹191.14 crore) are almost fully utilized. The Audit Committee and auditors had no comments or concerns on the usage.
This is a routine positive compliance filing — no deviation means the company is deploying IPO funds on track and in line with what was promised to shareholders at the time of listing, which supports investor confidence. Watch the remaining ~₹86 crore capex deployment in coming quarters to ensure timely utilization.