Disclosure regarding Statement of Deviation or Variation pursuant to Regulation 32 of SEBI (LODR), Regulations, 2015.
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Technichem Organics has filed a routine compliance statement confirming there is no deviation or variation in the use of funds raised through its IPO on 3 January 2025. The company raised Rs. 25.24 crore in total. Of this, Rs. 10.23 crore earmarked for repaying/prepaying borrowings and Rs. 7.97 crore for general corporate purposes have been fully utilised. The remaining Rs. 7.04 crore allocated for setting up a new plant remains unutilised as of 31 March 2025 and is expected to be deployed during FY 2025-26. No monitoring agency was required, and there are no comments from the audit committee or auditors on any deviation.
This is a standard regulatory disclosure confirming IPO funds are being used as originally stated. No negative signal for shareholders — the capex portion is simply pending deployment as the new plant project progresses. Investors should track the next quarterly update to see if plant capex spending begins.