Statement of Deviation for the Period for the period ended 31st March, 2026
Price
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Workmates Core2Cloud Solution Ltd has filed its half-yearly compliance statement confirming that IPO proceeds of Rs. 69.84 Cr (raised on November 14, 2025) are being utilized strictly as per the prospectus. The Audit Committee reviewed and confirmed there is NO deviation or variation in fund utilization. Of the total proceeds: Rs. 29.20 Cr is allocated for working capital (Rs. 11.72 Cr utilized, Rs. 17.48 Cr pending), Rs. 8.60 Cr for debt repayment (fully utilized), Rs. 10 Cr for general corporate purposes (fully utilized), and Rs. 11.53 Cr for issue expenses (Rs. 9.80 Cr utilized, Rs. 1.74 Cr pending). Brickwork Ratings India Private Limited is the monitoring agency.
For shareholders, this is a positive confirmation that the company is adhering to its stated utilization plan with zero deviation, indicating disciplined use of IPO capital and proper governance oversight.