Infonative Solutions Limited has issued a statement confirming there have been no deviations or variations in the utilization of funds raised through its Initial Public Offer (IPO). The report, covering the half-year period ended September 30, 2026, aligns with SEBI Listing Regulations. This declaration assures stakeholders that the IPO proceeds have been used as per the company’s initial disclosures.
Infonative Solutions Limited Confirms IPO Fund Utilization
Infonative Solutions Limited has formally communicated to the BSE Limited that there have been no deviations or variations in the utilization of funds raised from its Initial Public Offer (IPO). This statement is in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company’s report for the half-year ended September 30, 2026, indicates that the proceeds from the IPO have been utilized precisely as outlined in the company’s prospectus. The detailed statement was submitted to the BSE Limited on November 14, 2026.
Certificate of Utilization of Funds
A supporting certificate from Kailash Chand Jain & Co., Chartered Accountants, was appended to the statement. This certificate confirms that the utilization of funds, which aggregated to ₹24,71,12,100/- from the IPO of 31,28,000 equity shares, is in agreement with the unaudited financial statements for the half-year ended September 30, 2026.
The statement breaks down the utilization of funds as follows:
- Expense for development of New Products, courses and new feature in LMS & Purchase of new Assets: ₹735.21 Lakhs
- Working Capital Requirement: ₹500.67 Lakhs
- Public Issue Expenses: ₹417.95 Lakhs
- General Corporate Purpose and unidentified acquisitions: ₹817.29 Lakhs
In all categories, the Utilisation of Funds till 30.09.2026 is equal to the Amount disclosed in Offer Document, resulting in an Unutilised Amount of NIL for each category.
No Deviation Confirmed
The ANNEXURE-A document further clarifies that there has been No Deviation/Variation in the use of funds raised. The company confirmed that any changes, if they were to occur, would be pursuant to shareholder approval, though none were needed in this instance. The auditors’ comments and the Audit Committee’s review of the statement both reported ‘Nil’ comments regarding deviations.
Source: BSE
