Utilization of funds raised through Public Issue(IPO) is submitted for the half year and year ended March 31, 2025.
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Three M Paper Boards has submitted its statement on the use of proceeds from its Public Issue (IPO) for the half-year and full year ended March 31, 2025. The company raised Rs. 39.83 crore on July 12, 2024, through the IPO. All funds have been fully utilized as per the original stated objects: Rs. 14 crore for capital expenditure (new machinery, modernization, and boiler installation), Rs. 10 crore for working capital, Rs. 7 crore for loan prepayment, Rs. 91.13 lakh for general corporate purposes, and Rs. 7.92 crore for issue-related expenses. The filing confirms there is no deviation or variation from the originally disclosed use of funds, and both the Audit Committee and auditors have raised no comments.
This is a routine positive compliance filing showing the company has used its IPO money exactly as promised to shareholders, with no diversions. No negative impact on shareholders; reflects good governance and adherence to the IPO prospectus.