Please see enclosed the Statement of Deviation or Variation in utilization of Issue proceeds
TBOTEK · price
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TBO Tek Limited has filed its quarterly statement confirming no deviation in the utilization of IPO proceeds for the quarter ended March 31, 2026. The company raised Rs. 400 crore through its Initial Public Offer on May 13, 2024. CARE Ratings Limited is the monitoring agency for this issue. The Audit Committee reviewed and the Board took on record the statement at their meetings held on May 28, 2026. Both the Audit Committee and auditors have reported Nil comments, indicating funds are being utilized as per the original objects stated in the IPO prospectus.
This is a routine compliance filing with no negative implications. The confirmation of no deviation suggests proper fund deployment according to the IPO objectives, which is a positive indicator for shareholders regarding corporate governance.