SS Retail Limited has submitted its statement on the deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO) for the quarter ended September 30, 2026. The company confirmed that there has been no deviation or variation in the use of IPO funds, as reviewed by the Audit Committee. The utilized funds largely align with the original objects disclosed.
SS Retail Reports IPO Fund Utilization Status
SS Retail Limited has formally communicated its compliance with the IPO fund utilization disclosure requirements. In a statement filed for the quarter ending September 30, 2026, the company has reported that there are no deviations or variations in how the proceeds from its Initial Public Offering (IPO) have been utilized. This statement has been reviewed and approved by the company’s Audit Committee.
Fund Utilization Details
The report details the utilization of funds raised from the IPO, which amounted to ₹359,99,99,175. As of September 30, 2026, the company has utilized ₹1532.80 million against a gross proceeds of ₹3600.00 million. Key utilization areas included funding capital expenditure for new store setups and repayment/pre-payment of certain outstanding borrowings. The remaining unutilized proceeds, totaling ₹1936.24 million, have been temporarily invested.
The company has clarified that the utilization aligns with the objects disclosed in its offer document. Specifically, for funding capital expenditure for new store setups, ₹124.53 million was proposed, with the entire amount remaining unutilized as of the reporting date. For repayment of borrowings, ₹2,413.48 million was allocated, and ₹601.77 million was utilized during the quarter. General corporate purposes accounted for ₹797.54 million, with the full amount remaining unutilized.
Issue expenses amounted to ₹264.45 million, of which ₹133.50 million was utilized during the quarter, leaving an unutilized balance of ₹130.95 million.
Source: BSE
