INDO SMC Ltd: Statement of Deviation and Variation for IPO Proceeds

INDO SMC Ltd has submitted its Statement of Deviation and Variation for the half-year ended September 30, 2026, as per SEBI regulations. The company's statutory auditors, A. N. RUPAREL & CO., have certified the utilization of Gross/Net offer proceeds received from the Initial Public Offer (IPO). The auditors performed limited assurance procedures, examining the unaudited books of account and tracing IPO proceeds against supporting documents and the prospectus. Based on their examination, the auditors found no discrepancies, stating that the utilization of IPO proceeds during the period July 1, 2026, to September 30, 2026, is in agreement with the company's books and aligns with the purposes outlined in the IPO prospectus. The certificate is intended for submission to the monitoring agency regarding IPO proceeds utilization.