Submission of statement of Deviation or Variation for the half year ended on 30th September,2025.
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Awaiting price reaction for this filing.
Technichem Organics Ltd has filed a statement on deviation or variation in the use of proceeds from its IPO, which was held on 3 January 2025 and raised Rs. 25.24 crore. The company confirms there is no deviation or variation from the objects disclosed in the IPO document. Out of three stated objectives, repayment of borrowings (Rs. 10.24 crore) and general corporate purposes (Rs. 7.97 crore) have been fully utilized. The funding for setting up a new plant, with an original allocation of Rs. 7.04 crore, has utilized Rs. 1.63 crore so far, and the unutilized amount is expected to be deployed during FY 2025-26.
This is a routine compliance disclosure with no negative implications — funds are being used broadly as planned. The slower pace of new plant capex spending is typical for project-based deployment and is not flagged as a deviation, so shareholders and the stock are unlikely to see any meaningful impact from this filing.