Manorama Industries Limited has submitted its statement of deviation or variation in the utilization of funds raised through a Qualified Institutions Placement (QIP). This filing covers the quarter ending September 30, 2026. The company confirmed that funds raised were primarily allocated to working capital requirements and general corporate purposes, with no material deviation reported for the specified period. The statement has been reviewed and approved by the Audit Committee and the Board.
Quarterly Fund Utilization Statement Submitted
Manorama Industries Limited has officially released its statement detailing the utilization of funds raised through its Qualified Institutions Placement (QIP). This mandatory disclosure pertains to the financial quarter ending September 30, 2026, and is in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Allocation of QIP Funds
The funds raised via the QIP were originally earmarked for two primary purposes: funding of working capital requirements and general corporate purposes. As of September 30, 2026, the company reported utilizing ₹15,000 lakh for working capital facilities. An amount of ₹8,539.81 lakh was allocated for general corporate purposes, with no utilization reported for this category during the quarter. Issue expenses accounted for ₹1,460.19 lakh, which were fully utilized.
No Significant Deviation Reported
The statement indicates that there has been no deviation or variation in the utilization of the funds raised when compared to the originally disclosed objects. The total gross proceeds raised were ₹50,000 lakh. The unutilized net proceeds as of the reporting date amount to ₹33,539.81 lakh. This statement has undergone review and received approval from the company’s Audit Committee and Board of Directors.
Availability of Information
Manorama Industries Limited also confirmed that this statement of deviation or variation is accessible on the company’s official website at https://manoramagroup.co.in/, ensuring transparency for all stakeholders.
Source: BSE
