Steamhouse India Limited has formally confirmed that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO). The statement pertains to the quarter ended September 30, 2026, and assures stakeholders that the funds have been utilized strictly as per the objects stated in the company’s prospectus.
Quarterly IPO Fund Utilization Statement
Steamhouse India Limited has submitted its statement of deviation or variation in the utilization of funds raised via its Initial Public Offering (IPO). This disclosure covers the financial quarter that concluded on September 30, 2026.
Confirmation of Compliance
The company has unequivocally confirmed that the IPO proceeds have been used in complete adherence to the objectives originally outlined in its prospectus. There have been no deviations or variations observed in the allocation and spending of these funds during the specified quarter. This statement ensures transparency for investors regarding the deployment of capital raised from the public issue.
Financial Details and Usage
The detailed statement, provided as Annexure-A, outlines the utilization of funds against the original objects. For the quarter ending September 30, 2026, the utilized funds align with the planned allocations. Notably, the initial allocation for Repayment or prepayment of outstanding borrowings was Rs. 1,800.00 million, with Rs. 1,418.95 million utilized. Similarly, funds allocated for Funding capital expenditure for Ankleshwar Facility (Phase 3) and Panoli Facility (Phase 2) were utilized without deviation. A significant portion, Rs. 381.74 million, was also allocated and accounted for the setting up of a manufacturing facility at Dahej GIDC. The general corporate purposes saw an adjustment to Rs. 283.79 million due to a rectification in estimated offer-related expenses, now accurately reported at Rs. 304.94 million, ensuring a net proceeds figure of Rs. 3,225.06 million.
Source: BSE
