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Awaiting price reaction for this filing.
Techknowgreen Solutions has filed its quarterly statement on the use of IPO proceeds for the quarter ended March 31, 2025, as required under SEBI Listing Regulations. The company had raised ₹1,671.84 Lakhs through its IPO in September 2023. The company reports that there is no deviation or variation in the use of the funds raised, with the Audit Committee and auditors having no comments. However, the object-wise allocation was revised: the R&D budget was increased from ₹138.25 Lakhs to ₹210.78 Lakhs, while issue-related expenses were reduced from ₹385 Lakhs to ₹312.47 Lakhs. As of this report, ₹169.98 Lakhs has been deployed towards R&D and ₹99.05 Lakhs towards office premises refurbishment.
This is a routine compliance filing with no adverse flags, but the reallocation toward R&D (and away from issue expenses) signals that the company is channelling more IPO money into research and talent, which could be a positive long-term signal if it translates into revenue growth.