Belrise Industries Limited has submitted its statement of deviations or variations in the utilization of funds raised through its Initial Public Offering (IPO) for the quarter ended June 30, 2026. The company confirmed that there were no material deviations in the use of gross proceeds raised, with funds allocated as per the offer document, including for general corporate purposes.
Belrise Industries Reports IPO Fund Utilization
Belrise Industries Limited has issued a statement detailing the utilization of funds raised from its Initial Public Offering (IPO) for the financial quarter ending June 30, 2026. This disclosure is in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Financial Highlights
The report, reviewed by the Audit Committee on August 14, 2026, indicates that the company has adhered to the original objects for which the funds were raised. The gross proceeds from the IPO amounted to approximately ₹21,500 million, with net proceeds of ₹20,286.12 million after accounting for issue expenses.
Fund Allocation and Utilization
A significant portion of the funds was earmarked for the repayment/prepayment of outstanding borrowings, with an original allocation of ₹16,181.27 million. The actual utilization for this purpose was ₹15,960.21 million as of March 31, 2026. The remaining funds were allocated towards General Corporate Purposes, with an initial proposal of ₹4,104.85 million, subsequently revised to ₹4,690.46 million. As of the reporting quarter, ₹4,685.85 million had been utilized for general corporate purposes.
Statement on Deviations
The company explicitly stated that there were no deviations or variations in the use of funds raised, as confirmed by the Monitoring Agency. The total unutilized amount as of the end of the quarter was ₹4.61 million for general corporate purposes, and the overall unutilized amount across all heads was ₹68.23 million, primarily comprising issue expenses.
Source: BSE
