Swastika Infra Limited has submitted its statement of deviation or variation in the utilization of proceeds from its Initial Public Offer (IPO) for the quarter ended September 30, 2026. The company confirmed that the statement has been prepared in the prescribed format and reviewed by the Audit Committee, indicating no deviation or variation observed in the utilization of funds against the objects stated in the prospectus.
Swastika Infra Submits IPO Fund Utilization Statement
Swastika Infra Limited has formally submitted its Statement of Deviation/Variation in the utilization of proceeds from its Initial Public Offer (IPO). This disclosure pertains to the financial quarter that concluded on September 30, 2026, as required by Regulation 32(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Confirmation of No Deviation
The company has confirmed that the submitted statement adheres to the prescribed format and accurately details the utilization of funds raised through the IPO. Crucially, it confirms that the status of utilization aligns with the objects outlined in the company’s prospectus. The statement has also undergone a review by the Audit Committee of Swastika Infra Limited during its meeting held on October 21, 2026.
Details of Fund Utilization
The report indicates that the total amount raised through the public issue was ₹160.87 Crore. For the quarter ended September 30, 2026, the company provided the following details regarding fund utilization:
Funding of Incremental Working Capital Requirements:
- Original Allocation: ₹90.00 Crore
- Funds Utilised (Q2 2026): ₹90.00 Crore
- Deviation/Variation: Nil
General Corporate Purposes:
- Original Allocation: ₹19.38 Crore
- Funds Utilised (Q2 2026): ₹19.38 Crore
- Deviation/Variation: Nil
The Monitoring Agency for the funds raised is CRISIL RATING LIMITED, and the company has stated ‘Not Applicable’ for any shareholder approval related to deviations. The Audit Committee review confirmed ‘Nil / No deviation or variation observed’.
The company requests that this statement be taken on record.
Source: BSE
