Corporate Governance22 Oct 2026, 02:33 pm
Nippon Life India AM: No Deviation in IPO Fund Use for Q2 FY27
AI Summary
Nippon Life India Asset Management Limited has filed its statement of deviation/variation in the utilization of IPO proceeds for the quarter ended September 30, 2026. The company raised ₹616.90 Crores (Net Proceeds: ₹588.85 Crores) through its IPO on November 6, 2017. For the reported quarter, there was no deviation or variation in the utilization of funds across all stated objects, including setting up new branches, IT system upgrades, marketing, lending to its subsidiary, investments in new mutual fund schemes, and general corporate purposes. The total funds utilized as of the quarter were ₹401.36 Crores.
Key Highlights
- No deviation reported in IPO fund utilization for Q2 FY27.
- IPO proceeds of ₹588.85 Crores raised in November 2017.
- Funds utilized across various objectives as per IPO prospectus.
- Total utilized funds stand at ₹401.36 Crores.
- HDFC Bank is the applicable monitoring agency.
Price Impact
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