Syrma Sgs Technology Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Syrma SGS Technology has filed its quarterly compliance statement under SEBI Regulation 32(1) for the quarter ended March 31, 2025, confirming that there is no deviation or variation in the use of funds raised through its IPO in August 2022. The company had raised ₹840.13 crores (fresh issue of ₹766 crores + offer for sale of ₹74.13 crores). During the quarter, ₹303.75 crores was utilized towards capital expenditure for R&D facility, expansion, and manufacturing setup against an original allocation of ₹403 crores. Working capital allocation of ₹131.58 crores is nearly fully utilized (₹131.51 crores), and general corporate purpose funds of ₹191.14 crores have been substantially deployed (₹190 crores). The Audit Committee and auditors have no adverse comments, and CRISIL Ratings is the monitoring agency.
This is a routine regulatory compliance filing with no material impact on shareholders or stock price. It reassures investors that IPO proceeds are being deployed in line with the originally stated objects without any misuse or diversion.