Innovision Limited has submitted its statement on the deviations and variations in the utilization of funds raised through its Initial Public Offering (IPO). The report, which covers the quarter ended September 30, 2026, indicates that all funds raised have been utilized as planned, with no significant deviations or variations reported.
Innovision Limited Submits IPO Fund Utilization Statement
Innovision Limited has formally disclosed its adherence to regulatory requirements by submitting a statement detailing the utilization of funds raised from its Initial Public Offering (IPO). This statement, pertinent to the quarter ending September 30, 2026, confirms the company’s commitment to transparency and compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Statement of Deviations and Variations
The company’s report indicates that there have been no deviations or variations in the utilization of funds as of the specified quarter. The funds raised through the IPO, amounting to ₹2,550 million (Gross Proceeds) with Net Proceeds of ₹2097.99 million, have been allocated and utilized according to the original objects. The IPO was conducted on March 23, 2026.
Fund Allocation Details
The statement breaks down the fund utilization into key areas:
- Repayment or prepayment of borrowings: An amount of ₹510.00 Million was originally allocated and fully utilized for this purpose.
- Funding Working Capital Requirements: The company allocated ₹1,190.00 Million for working capital and has utilized ₹824.91 Million to date.
- General Corporate Purposes: An allocation of ₹397.99 Million was made, with ₹1.36 Million utilized. This utilization was primarily towards adjustments of CC facility, payment for EPFO, GST, TDS, Toll remittance, and security deposit paid to NHAI.
The report confirms that the funds were fully utilized during the quarter ended March 31, 2026 for the repayment of borrowings. For working capital and general corporate purposes, utilization is ongoing and within the allocated amounts.
The Monitoring Agency for this fund utilization is CRISIL Ratings Limited. The statement also explicitly mentions that there has been no deviation/variation in the use of funds raised. Consequently, there was no requirement for shareholder approval regarding changes in the contract or objects.
Source: BSE
