BlackBuck Limited has issued a statement confirming that for the quarter ended September 30, 2026, there has been no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). The company’s disclosure, reviewed by the Audit Committee, indicates that the proceeds have been used in line with the objects outlined in the prospectus dated November 18, 2024. The statement assures stakeholders of transparency and adherence to financial commitments.
No Deviation in IPO Fund Utilization
BlackBuck Limited has officially reported that its utilization of funds raised via its Initial Public Offer (IPO) remained consistent with the objectives detailed in the company’s prospectus. This confirmation pertains to the financial quarter ending September 30, 2026.
Adherence to Prospectus Objectives
In accordance with regulatory requirements, BlackBuck Limited has stated there was no deviation or variation in how the IPO proceeds were utilized during the specified quarter. The company’s disclosure adheres to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audited statement has been duly reviewed by the Company’s Audit Committee, confirming that the use of funds aligns with the initial disclosures made in the prospectus dated November 18, 2024.
Fund Utilization Breakdown
The statement details the original objects for which funds were raised and their subsequent utilization. Key allocations include:
- Funding towards sales and marketing costs: Original object N/A, Modified allocation INR 200.000 crore, Funds Utilised INR 200.000 crore.
- Investment in Blackbuck Finserve Private Limited, NBFC subsidiary for financing the augmentation of its capital base to meet its future capital requirements: Original object N/A, Modified allocation INR 140.000 crore, Funds Utilised INR 140.000 crore.
- Funding of expenditure in relation to product development: Original object N/A, Modified allocation INR 75.000 crore, Funds Utilised INR 75.000 crore.
- General corporate purposes: Original object N/A, Modified allocation INR 135.000 crore, Funds Utilised INR 122.011 crore.
For the general corporate purposes allocation, the issuer utilized the proceeds as a reimbursement for expenditure that was funded through internal accruals.
This disclosure will also be made available on the company’s official website, www.blackbuck.com, ensuring broad accessibility of information for all stakeholders.
Source: BSE
