Nippon Life India AM reports Nil Deviation in IPO Fund Utilization

Nippon Life India Asset Management Ltd (NAM) has filed its Statement of Deviation & Variation for the quarter ended March 31, 2026, in compliance with Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there was no deviation or variation in the utilization of proceeds from its Initial Public Offering (IPO). The IPO, which raised ₹616.90 Crores (net proceeds of ₹588.85 Crores) on November 6, 2017, has seen its funds utilized in line with the original objects stated in the Prospectus dated October 30, 2017. HDFC Bank Limited serves as the monitoring agency.