KNACK PACKAGING LIMITED has formally confirmed that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). The company’s statement, issued for the quarter ended September 30, 2026, assures stakeholders that the proceeds have been used strictly in accordance with the objects stated in the IPO prospectus. This provides clarity and reinforces investor confidence in the company’s financial management.
Confirmation of IPO Fund Utilization
KNACK PACKAGING LIMITED has submitted a statement confirming the utilization of funds raised via its Public Issue, specifically the Initial Public Offer (IPO). This declaration pertains to the financial quarter that concluded on September 30, 2026.
No Deviation Reported
The company has explicitly stated that there has been no deviation or variation in the utilization of the proceeds from the IPO. This confirmation aligns with the objectives originally disclosed in the company’s prospectus and subsequent offer documents. The Audit Committee has reviewed the utilization and noted that there is no variance from the stated objectives.
Project Expenditure Details
For the quarter ended September 30, 2026, the company reported that funds allocated for the partial funding of capital expenditure towards setting up a new manufacturing facility at Borisana, Mehsana, Gujarat, have seen ₹7.04 million utilized. The total original allocation for this object was ₹3200.00 million. The company anticipates these funds will be progressively utilized as the project progresses, and the project has recently commenced.
General Corporate Purposes and Issue Expenses
Expenditure on General corporate purposes for the quarter stood at ₹294.69 million, against an original allocation of ₹311.49 million. Similarly, Issue expenses incurred were ₹259.03 million, against an original allocation of ₹288.51 million. In both these categories, there were no deviations or variations from the original disclosures.
Source: BSE
