Nexxus Petro Industries Limited has submitted its statement on the utilization of funds raised through its Initial Public Offer (IPO) for the half-year ended September 30, 2026. The report, reviewed by the Audit Committee and Board, confirms no significant deviation in the allocation of funds for the stated objects. The company raised ₹19.42 Crores through the IPO. Details provided cover working capital requirements and general corporate purposes.
IPO Fund Utilization for H1 FY27
Nexxus Petro Industries Limited has officially disclosed its Statement of Deviation and Variation in the utilization of funds raised from its Initial Public Offer (IPO). This report covers the financial period ending September 30, 2026, as per the requirements under Regulation 32(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Financial Details
The company raised a total of ₹19.42 Crores through its Public Issue/Right Issue/Preferential Issue/QIP (Qualified Institutional Placement). The funds were earmarked for specific objectives outlined in the prospectus. The report details the original objects for which funds were raised, including funding the working capital requirements of the company and general corporate purposes.
Fund Utilization Status
For the half-year ended September 30, 2026, Nexxus Petro Industries Limited reported no deviation or variation in the utilization of IPO funds. The statement indicates that the funds utilized align with the original disclosures. Specifically:
- Funding the working capital requirements of the Company: Original allocation was ₹1,600.00 Lakhs, with ₹1,600.00 Lakhs utilized. There is ₹0.00 Lakhs unutilized.
- General Corporate Purpose: Original allocation was ₹148.63 Lakhs, with ₹144.29 Lakhs utilized. This leaves an unutilized amount of ₹4.34 Lakhs.
- Issue Expenses: The amount allocated was ₹194.29 Lakhs, and the full amount of ₹194.29 Lakhs was utilized.
The Independent Auditor’s certificate confirms the receipt of issue proceeds net off issue expenses and their utilization as per the objects disclosed in the prospectus dated September 22, 2024.
Corporate Governance Review
The aforementioned statement has undergone review by the Audit Committee and has been formally taken on record by the Board of Directors at their respective meetings held on November 14, 2026. The company has confirmed that there was no deviation or variation in the utilization of funds raised, nor was there any change in the terms of a contract or object requiring shareholder approval.
Source: BSE
