Statement of Deviation or Variation for half year and year ended March 31, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Telge Projects Ltd raised ₹27.24 crore via IPO on October 3, 2025 (net proceeds ₹24.46 crore after ₹2.78 crore issue expenses). The company hasvaried its utilisation terms by reallocating ₹5 crore (₹500 lakhs) from the original allocation for purchasing additional office premises at Pune (₹8.95 crore earmarked) toward 'Acquisitions and Strategic Initiatives' for the company and its subsidiaries. This change was approved by shareholders via Postal Ballot on March 21, 2026. As of March 31, 2026, only ₹6.79 crore (27.7%) of net proceeds have been utilised out of ₹24.46 crore, with ₹17.67 crore still deployed in fixed deposits. The balance of the office premises allocation was revised to ₹3.95 crore, of which ₹3.95 crore has been spent. No comments were raised by the Audit Committee or Statutory Auditors on the deviation.
The reallocation of ₹5 crore toward acquisitions signals a strategic shift from planned real estate expansion to M&A activity. With 72% of IPO proceeds still unused, investors should monitor how the acquisitions strategy unfolds and whether it delivers value, as the change was shareholder-approved but reduces transparency on original use of proceeds.