Prasol Chemicals Limited has formally confirmed that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO). This statement pertains to the quarter ended September 30, 2026. The company has provided an enclosed statement detailing the use of these funds, asserting that it aligns with the objects outlined in the prospectus dated September 10, 2026. This intimation has also been uploaded to the company’s official website.
IPO Fund Utilization Confirmation
In compliance with regulatory requirements, Prasol Chemicals Limited has issued a statement confirming the status of its Initial Public Offering (IPO) fund utilization. The company declared that for the quarter ended September 30, 2026, there has been no deviation or variation in how the IPO proceeds have been utilized. This aligns with the objectives originally stated in the company’s prospectus, which was dated September 10, 2026.
Transparency and Disclosure
The confirmation, submitted to both the National Stock Exchange of India Ltd. and BSE Limited, includes an enclosed statement detailing the utilization of funds for the specified quarter. Prasol Chemicals emphasized its commitment to transparency by also making this information available on its corporate website, www.prasolchem.com. This proactive disclosure aims to keep stakeholders informed about the company’s financial stewardship following its public offering.
No Variance Reported
The statement specifically addresses Regulation 32(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company explicitly confirmed that the utilization of IPO proceeds has strictly followed the planned objectives. The accompanying statement of deviation and variation for the quarter ending September 30, 2026, indicates that no material differences were observed.
Source: BSE
