Statement of deviation and Variation for the half year ended on 31st March, 2026.
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Technichem Organics Limited has filed its half-yearly compliance report for IPO fund utilization. The company raised Rs. 25.25 crore through its IPO on 3rd January 2025. Of the three objects - new plant setup (Rs. 7.04 crore), repayment of borrowings (Rs. 10.24 crore), and general corporate purposes (Rs. 7.97 crore) - only the new plant object shows partial utilization at Rs. 4.78 crore as of March 2026. The company states there is NO deviation or variation in fund utilization. The unutilized amount for the new plant (Rs. 2.26 crore approximately) is expected to be deployed during FY 2026-27 as per the planned expenditure schedule.
Positive for shareholders - the company confirms funds are being used as per the IPO prospectus with no unauthorized deviation. The partial utilization of plant setup costs is a timing matter, not a fund misuse issue.