Regulatory13 Aug 2026, 08:11 pm
Horizon Reclaim IPO Proceeds Deviation of ₹15.89 Lakh
AI Summary
Horizon Reclaim (India) Ltd has reported a deviation in the utilization of its Initial Public Offering (IPO) proceeds for the quarter ended June 30, 2026. The deviation, amounting to ₹15.89 lakh, is attributed to an increase in Issue Expenses from ₹434.44 lakh to ₹450.33 lakh. This increase, which includes GST, led to a corresponding reduction in the allocation for General Corporate Purposes (GCP) from ₹779.84 lakh to ₹763.95 lakh. The company clarified that this variation was not due to any change in the original objects of the issue or a shareholder-approved alteration. The statement has been reviewed by the Audit Committee and the Board of Directors.
Key Highlights
- IPO proceeds utilization shows a deviation of ₹15.89 lakh.
- Deviation caused by increased issue expenses, not change in IPO objects.
- GCP allocation reduced due to higher actual issue expenses.
- Statement reviewed by Audit Committee and Board of Directors.
Price Impact
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