Statement of Deviation (s) or Variation (s) of funds for the quarter ended March 31, 2026
WCIL · price
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Western Carriers (India) Ltd has submitted a nil-deviation statement for the quarter ended March 31, 2026 regarding utilisation of IPO proceeds. The IPO raised Rs. 4,928.80 million (Fresh issue: Rs. 4,000 million + Offer for Sale: Rs. 928.80 million) with allotment on September 20, 2024. The statement confirms that there was no deviation or variation in the use of IPO funds during the quarter. The funds were to be deployed for (i) repayment of a portion of certain borrowings (Rs. 1,635.00 million proposed), and (ii) funding of capital expenditure requirements towards purchase of commercial vehicles, specialised containers, and reach stackers (Rs. 1,517.10 million proposed). Both objects show Rs. 0 deviation and Rs. 0 variation. The filing was reviewed by the Audit Committee with no comments. Monitoring agency is CRISIL Ratings Limited.
No deviation in IPO fund utilisation is a positive signal, indicating the company is deploying proceeds as planned. This should reassure investors that IPO capital is being used according to the prospectus objectives.